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| 1 | |
Which accounts for the largest percentage of health care financing in the U.S.? |
| | A) | Public insurance |
| | B) | Private insurance |
| | C) | Co-payments and deductibles |
| | D) | Private expenditures other than co-payments and deductibles |
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| 2 | |
What person would most likely be eligible to receive health benefits through Medicaid? |
| | A) | A retired university professor |
| | B) | A part-time sales clerk |
| | C) | An unemployed parent who qualifies for Temporary Assistance for Needy Families |
| | D) | A student worker |
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| 3 | |
Among the following countries, health care spending as a percentage of GDP is highest in: |
| | A) | Canada |
| | B) | the U.S. |
| | C) | Mexico |
| | D) | Japan |
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| 4 | |
Most economists who have studied the health care industry have concluded that resources in the U.S. are likely: |
| | A) | underallocated; marginal benefits exceed marginal costs |
| | B) | underallocated; marginal costs exceed marginal benefits |
| | C) | overallocated; marginal benefits exceed marginal costs |
| | D) | overallocated; marginal costs exceed marginal benefits |
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| 5 | |
The demand for health care in the U.S. is: |
| | A) | price elastic and income inelastic |
| | B) | price inelastic and income elastic |
| | C) | both price and income inelastic |
| | D) | both price and income elastic |
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| 6 | |
The demand for health care services would increase if there were: |
| | A) | an increase in physicians' productivity |
| | B) | a decrease in federal funding of Medicaid and Medicare |
| | C) | an improvement in medical technology |
| | D) | an increase in the average age of the population |
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| 7 | |
Use the following table to answer the next question:
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Refer to the data in the table showing the supply and demand schedules for a particular medical procedure. If insurance were to pay half the cost of this procedure, resources would be: |
| | A) | allocated efficiently, because marginal benefit equals marginal cost at a quantity of 900 |
| | B) | underallocated, because of potential spillover costs |
| | C) | overallocated, because the marginal cost exceeds the marginal benefit at a quantity of 1100 |
| | D) | underallocated, because the marginal benefit exceeds the marginal cost at a quantity of 800 |
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| 8 | |
Use the following table to answer the next question:
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Refer to the data in the table showing the supply and demand schedules for a particular medical procedure. If 1000 procedures were provided: |
| | A) | resources would be allocated efficiently |
| | B) | marginal cost would exceed marginal benefit by $4,000 |
| | C) | the consumer's price must be $10,000 |
| | D) | insurance must be covering three fourths of the consumer's cost |
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| 9 | |
The main objectives of a system of national health insurance are to: |
| | A) | ensure universal access to health care and contain costs |
| | B) | provide better information to health care consumers and to maintain the right to use a physician of the patient's choice |
| | C) | reduce costs to employers and reduce the burden on the federal Medicare and Medicaid trust funds |
| | D) | provide an adequate income to physicians to ensure their continuing service and to provide health care access to public employees |
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| 10 | |
Which of the following allows individuals to set aside money tax free to pay for routine medical expenses? |
| | A) | Medicaid |
| | B) | HMOs |
| | C) | Medical saving accounts |
| | D) | Medicare Part D |
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