Chapter 5: The Economics of Health Care – Flashcards
15 test answers
Unlock all answers in this set
Unlock answers 15question
The PPACA...
answer
Requires every resident of the United States to obtain health insurance or be fined
Unlock the answer
question
As a percentage of GDP, health care spending in the United States has been...
answer
Growing rapidly
Unlock the answer
question
Compared to increase in health care spending per person in other high-income countries, the increase in health care spending per person in the United States have grown...
answer
More rapidly
Unlock the answer
question
Current rends in the U.S. Health care spending, if not altered, will cause the growth of federal government spending in the United States to...
answer
Accelerate
Unlock the answer
question
To explain the rapid increase in health care soending in the United States, economists have cited the...
answer
...Slow rate of growth of labor productivity in health care, an aging U.S. population, advances in medical technology and new prescription drugs, and distorted economic incentives for consumers and suppliers of health care.
Unlock the answer
question
Those who critize ACA for too little government involvement...
answer
Do not assert that the system under ACA will require rationing.
Unlock the answer
question
Economists and policymakers favoring market-based reforms critize ACA because it...
answer
Fails to inject sufficient competition into the health care market, it makes the market for health care less like the markets for other good and services, and it will continue the present's system's failure to send accurate signals to consumers and suppliers
Unlock the answer
question
An improvement in medical technology that results in an increase in the life expectanxy for ppl. 65 yrs. of age and older can be expected to...
answer
Increase health care costs.
Unlock the answer
question
Older ppl. require...
answer
Increasing amounts of health care
Unlock the answer
question
Health care is _______ good.
answer
Normal. As income per person increases, so does health care spending per person.
Unlock the answer
question
If advances in medical technology allow better and less costly treatment of disesase and cures for diseases that are now expensive to treat, expendittures on health care could ________ as incomes _________; health care would then be considered an _______ inferior good.
answer
Decline, rise, inferior
Unlock the answer
