Question 1

Because consumers who have insurance provided by their employers usually only pay a deductible for a visit to the doctor's office,

Accepted Answer

When consumers have insurance provided by their employers and only pay a deductible for a visit to the doctor's office, it reduces the perceived out-of-pocket cost for the consumer. This leads to an increased demand for health care services because consumers are likely to consume more health care services when they perceive that the costs are low or not their responsibility. Therefore, they demand a larger quantity of health care services than they would if they paid a price that better represented the true cost of providing the service.

Question 2

All of the following are part of the "regulation of health insurance" provision of the Patient Protection and Affordable Care Act (PPACA)except

Accepted Answer

All of the choices except for D are part of the regulation of health insurance provision of the PPACA. Elimination of limits on deductibles and waiting periods is not included in this provision, but rather is addressed in the provision related to essential health benefits.

Question 3

Economists who support market-based reforms for health care believe that increased competition among providers of health care would ________ costs and ________ economic efficiency.

Accepted Answer

The answer of Economists who support market-based reforms for health...

Question 4

The Congressional Budget Office estimates that most of the increase in federal spending on Medicare and Medicaid will be due to

Accepted Answer

The answer of The Congressional Budget Office estimates that most...

Question 5

The number of people receiving Medicare is expected to ________ by the year 2030.

Accepted Answer

According to projections from the Centers for Medicare & Medicaid Services, the number of people receiving Medicare is expected to grow to 80 million by the year 2030 due to an aging population and longer life expectancies.

Question 6

Under the Small Business Health Options Program (SHOP)provision of the health care plan,a small firm's employees would be pooled with the employees of other small firms.When an insurance plan covers a large number of people,

Accepted Answer

When an insurance plan covers a large number of people, adverse selection problems are reduced. This is because with a larger pool of participants, the risk is spread out among more people, making it less likely that only high-risk individuals will sign up for the plan. This helps to balance out the risk and cost of providing healthcare coverage, which can make it more affordable for small businesses and their employees.

Question 7

Growth in labor productivity in health care has been ________ labor productivity in the economy as a whole.

Accepted Answer

According to the Bureau of Labor Statistics, labor productivity in health care has grown at an average annual rate of 0.7% from 2007-2017, compared to the overall economy's average annual growth rate of 1.3%. Therefore, labor productivity in health care has been "less than half as fast as" labor productivity in the economy as a whole.

Question 8

A goal of market-based reforms of the health care system is to give patients an incentive to pay more attention to the prices of medical services.This would tend to ________ economic efficiency by ________ the costs of medical services

Accepted Answer

Market-based reforms would incentivize patients to pay more attention to the prices of medical services. This would put pressure on healthcare providers to lower their costs in order to remain competitive. As a result, the costs of medical services would decrease, leading to increased economic efficiency.

Question 9

The Congressional Budget Office estimates that the Patient Protection and Affordable Care Act (PPACA)will

Accepted Answer

The Congressional Budget Office estimates that the PPACA will increase government spending by just under $1 trillion over 10 years, primarily due to subsidies to help individuals purchase health insurance. While the law does include some cost-saving measures, such as reductions in payments to certain healthcare providers, these are not enough to fully offset the increased spending.

Question 10

Some economists and policymakers who are in favor of government-provided health care believe that providing health care will generate

Accepted Answer

Economists and policymakers who are in favor of government-provided health care believe that it generates positive externalities. This means that providing health care to everyone in the society leads to the reduction of the spread of diseases and infections, which benefits the whole community. Additionally, as people become healthier, they can be more productive and contribute more to the economy.

Question 11

Because consumers who have insurance provided by their employers usually only pay a deductible for a visit to the doctor's office,

Accepted Answer

The answer of Because consumers who have insurance provided by...

Question 12

All of the following are part of the "state health exchanges" provision of the Patient Protection and Affordable Care Act (PPACA)except

Accepted Answer

The statement "small businesses with fewer than 50 employees will be exempt from being required to participate in the program" is incorrect. Small businesses with fewer than 50 employees are not required to participate, but they are still eligible to take advantage of the benefits of the state health exchanges if they choose to do so. The other statements are correct; each state is required to establish an Affordable Insurance Exchange by 2014, low-income individuals are eligible for tax credits to offset the costs of buying health insurance, and health insurance policies that meet specified requirements will be offered by state-run agencies or non-profit firms.

Question 13

The aging of the U.S.population has tended to ________ spending on health care,and the development of new drugs and medical equipment has tended to ________ spending on health care.

Accepted Answer

The aging of the U.S. population has led to an increase in demand for health care services as older individuals tend to require more medical attention. This increased demand has also led to an increase in spending on health care. On the other hand, the development of new drugs and medical equipment has led to an increase in the availability and quality of health care services, which also tends to increase spending on health care. Therefore, both factors have contributed to an increase in spending on health care, making choice A the best answer.

Question 14

All of the following are part of the "taxes" provision of the Patient Protection and Affordable Care Act (PPACA)except

Accepted Answer

The statement "beginning in 2018, all taxes on employer-provided health insurance plans will be reduced or eliminated" is incorrect. In fact, the PPACA imposes a tax on high-cost employer-sponsored health plans (i.e. those with annual premiums exceeding certain thresholds) beginning in 2020. All other options are part of the "taxes" provision of the PPACA.

Question 15

The Patient Protection and Affordable Care Act (PPACA)is scheduled to be fully implemented by 2019,at which point

Accepted Answer

The PPACA, also known as Obamacare, aims to provide health care coverage to millions of uninsured Americans. By 2019, it is projected that more than 30 million additional individuals will have health care coverage as a result of the law. This would be a significant increase in the number of insured individuals and a major achievement of the law's goal. Current budget cuts may offset some of the costs of the program, but are unlikely to completely eliminate them. The PPACA does not involve the federal government taking over all hospitals in the US, nor does it entail the elimination of private health insurance companies.

Question 16

Of the following,which has most likely contributed the most to the rapid rise in health care costs in the United States?

Accepted Answer

While all of the options listed contribute to rising healthcare costs, slow growth in labor productivity in healthcare is cited as the primary driver for rising costs over the past several decades. This means that compared to other industries, health care systems are not able to improve efficiency and reduce costs at the same pace. Malpractice insurance and lawsuit settlements do play a role in increased costs, but are not as significant as productivity concerns. The cost of treating uninsured patients is also a factor, but it is not the most significant driver of healthcare cost growth.

Question 17

Uninsured patients receiving treatments at hospital emergency rooms that could have been provided less expensively at doctor's offices account for ________ of health care costs in the United States.

Accepted Answer

The answer of Uninsured patients receiving treatments at hospital emergency...

Question 18

In the United States,consumers usually pay ________ than the true cost of medical treatment because of ________.

Accepted Answer

Third-party payers (such as insurance companies or government programs like Medicare) often negotiate lower prices with healthcare providers, which results in consumers paying less than the true cost of medical treatment.

Question 19

All of the following are part of the "individual mandate" provision of the Patient Protection and Affordable Care Act (PPACA)except

Accepted Answer

Individuals are not allowed to opt out of the insurance program, even if they do not have serious health issues. The individual mandate requires all individuals (with limited exceptions) to have health insurance that meets certain basic requirements, starting in 2014.

Question 20

In the United States,health care spending on people over age 65 is ________ on people aged 18 to 24.

Accepted Answer

Health care spending on people over age 65 is six times greater than on people aged 18 to 24. This is likely due to the higher prevalence of chronic health conditions and the need for more frequent and advanced medical treatments as individuals age.

Quiz 5: The Economics of Health Care

Because consumers who have insurance provided by their employers usually only pay a deductible for a visit to the doctor's office,

All of the following are part of the "regulation of health insurance" provision of the Patient Protection and Affordable Care Act (PPACA) except

Economists who support market-based reforms for health care believe that increased competition among providers of health care would costs and economic efficiency.

The Congressional Budget Office estimates that most of the increase in federal spending on Medicare and Medicaid will be due to

The number of people receiving Medicare is expected to ________ by the year 2030.

Under the Small Business Health Options Program (SHOP) provision of the health care plan,a small firm's employees would be pooled with the employees of other small firms.When an insurance plan covers a large number of people,

Growth in labor productivity in health care has been ________ labor productivity in the economy as a whole.

A goal of market-based reforms of the health care system is to give patients an incentive to pay more attention to the prices of medical services.This would tend to economic efficiency by the costs of medical services

The Congressional Budget Office estimates that the Patient Protection and Affordable Care Act (PPACA) will

Some economists and policymakers who are in favor of government-provided health care believe that providing health care will generate

Because consumers who have insurance provided by their employers usually only pay a deductible for a visit to the doctor's office,

All of the following are part of the "state health exchanges" provision of the Patient Protection and Affordable Care Act (PPACA) except

The aging of the U.S.population has tended to spending on health care,and the development of new drugs and medical equipment has tended to spending on health care.

All of the following are part of the "taxes" provision of the Patient Protection and Affordable Care Act (PPACA) except

The Patient Protection and Affordable Care Act (PPACA) is scheduled to be fully implemented by 2019,at which point

Of the following,which has most likely contributed the most to the rapid rise in health care costs in the United States?

Uninsured patients receiving treatments at hospital emergency rooms that could have been provided less expensively at doctor's offices account for ________ of health care costs in the United States.

In the United States,consumers usually pay than the true cost of medical treatment because of .

All of the following are part of the "individual mandate" provision of the Patient Protection and Affordable Care Act (PPACA) except

In the United States,health care spending on people over age 65 is ________ on people aged 18 to 24.