What proportion on the GDP is spent on health care? 0.2 0.75 0.18 0.30 QUESTION 2 Which of the following options is incorrect about US health care? Health care spending as a share of GDP has been steady from 2008 to 2012 The projected health care spending as a share of GDP in 2020 is lower than the current share. Increase in life expectancy is one of the reasons of increase in health care costs US is categorized as a country with high health care costs QUESTION 3 For every 10 percent increase in price of health care services, demand falls by 3 percent. How much is the own price elasticity of demand for health care? 0.3 3.33 -3.33 -0.3 QUESTION 4 What is a Cadillac plan? Health insurance plan for Cadillac company (car manufacturer) A very generous employer-sponsored health insurance plan There is no such plan A very generous health plan for Cadillac owners QUESTION 5 Demand for health care is not Downward sloping Sensitive to the price of health care Vertical Horizontal QUESTION 6 Which option is not true on the price of health care? In general it does not affect ones health It might have some impact on high risk individuals It affects healthy people It has some impact on low-income individuals QUESTION 7 Which factor affects health? Income Education Medical care All of the above QUESTION 8 On average who is less likely to be healthier? Highly educated individuals Whites vs. blacks Young adults vs. elderly Hispanics vs. whites QUESTION 9Which theory explains the effect of health on income? Direct income theory Efficient producer theory Productive time theory Allostatic load theory QUESTION 10 Which one applies to an impatient individual? Have high discount factors Have low discount rates More likely to become a physician More likely to become a surfer

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

What proportion on the GDP is spent on health care?

0.2
0.75
0.18
0.30

QUESTION 2

Which of the following options is incorrect about US health care?

Health care spending as a share of GDP has been steady from 2008 to 2012
The projected health care spending as a share of GDP in 2020 is lower than the current share.
Increase in life expectancy is one of the reasons of increase in health care costs
US is categorized as a country with high health care costs

QUESTION 3

For every 10 percent increase in price of health care services, demand falls by 3 percent. How much is the own price elasticity of demand for health care?

0.3
3.33
-3.33
-0.3

QUESTION 4

What is a Cadillac plan?

Health insurance plan for Cadillac company (car manufacturer)
A very generous employer-sponsored health insurance plan
There is no such plan
A very generous health plan for Cadillac owners

QUESTION 5

Demand for health care is not

Downward sloping
Sensitive to the price of health care
Vertical
Horizontal

QUESTION 6

Which option is not true on the price of health care?

In general it does not affect ones health
It might have some impact on high risk individuals
It affects healthy people
It has some impact on low-income individuals

QUESTION 7

Which factor affects health?

Income
Education
Medical care
All of the above

QUESTION 8

On average who is less likely to be healthier?

Highly educated individuals
Whites vs. blacks
Young adults vs. elderly
Hispanics vs. whites

QUESTION 9Which theory explains the effect of health on income?

Direct income theory
Efficient producer theory
Productive time theory
Allostatic load theory

QUESTION 10

Which one applies to an impatient individual?

Have high discount factors
Have low discount rates
More likely to become a physician
More likely to become a surfer

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