HEALTH CARE EC MIDTERM QUESTIONS AND ANSWERS
100% CORRECT.
1- Which program has the highest expenditure per enrollee in the US?
Medicaid
Medicare
Employer-sponsored health insurance
Non-group health insurance Answer - medicare
1- Which statement is correct about US expenditure on health care in 2008?
One out of every six dollars spent in the U.S. was spent on health care
One out of every eight dollars spent in the U.S. was spent on health
care
One out of every four dollars spent in the U.S. was spent on health care
One out of every ten dollars spent in the U.S. was spent on health care Answer
- One out of every six dollars spent in the U.S. was spent on health care
1- 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 Answer - The
projected health care spending as a share of GDP in 2020 is lower than the
current share.
, 1- Demand falls by 5 percent for every 10 percent increase in price of health
care services.
How much is the own price elasticity of demand for health care?
0.5
2
-2
-0.5 Answer - -0.5
1- The demand for healthcare is ................ if the own price elasticity of demand
is -0.2.
Elastic
Inelastic
Unitary elastic
None of the above Answer - Inelastic
1- US demand for health care is
Downward sloping
Sensitive to the price of health care
Inelastic
All of the above Answer - All of the above
1- What share of the healthcare spending the US government is responsible
for?
One third
One fifth
100% CORRECT.
1- Which program has the highest expenditure per enrollee in the US?
Medicaid
Medicare
Employer-sponsored health insurance
Non-group health insurance Answer - medicare
1- Which statement is correct about US expenditure on health care in 2008?
One out of every six dollars spent in the U.S. was spent on health care
One out of every eight dollars spent in the U.S. was spent on health
care
One out of every four dollars spent in the U.S. was spent on health care
One out of every ten dollars spent in the U.S. was spent on health care Answer
- One out of every six dollars spent in the U.S. was spent on health care
1- 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 Answer - The
projected health care spending as a share of GDP in 2020 is lower than the
current share.
, 1- Demand falls by 5 percent for every 10 percent increase in price of health
care services.
How much is the own price elasticity of demand for health care?
0.5
2
-2
-0.5 Answer - -0.5
1- The demand for healthcare is ................ if the own price elasticity of demand
is -0.2.
Elastic
Inelastic
Unitary elastic
None of the above Answer - Inelastic
1- US demand for health care is
Downward sloping
Sensitive to the price of health care
Inelastic
All of the above Answer - All of the above
1- What share of the healthcare spending the US government is responsible
for?
One third
One fifth
