1)Private markets will lead to a ______ vaccination rate because:
a)socially optimal; price serves as a signal of marginal benefit and marginal cost.
b)suboptimally high; the external cost of being vaccinated would not fully be taken into account by decision makers.
c)suboptimally low; the external benefit of being vaccinated would not fully be taken into account by decision makers.
d)inequitable; health care services should not be provided based on ability to pay.
2) A socially optimal public health policy should expand the proportion of the population vaccinated:
a)whenever the marginal benefit of an additional vaccination is positive.
b)until the marginal cost of an additional vaccination equals the marginal benefit of an additional vaccination.
c)until the marginal benefit of an additional vaccination equals zero.
d)Until the marginal benefit of an additional vaccination is greater than the marginal cost of an additional vaccination.
3) If the marginal benefit of additional spending on a public health measure is greater than its marginal cost, then total economic surplus
a)will decrease if the government increases spending on the health measure.
b)will increase if the government increases spending on the health measure.
c)has been maximized.
d)is equal to zero.
4) The figure below shows Ava?s demand curve for days in the hospital. The marginal cost of an additional day in the hospital is $200.
If Ava had to pay the entire marginal cost of spending a day in the hospital, then she would choose to stay ______ day(s).
5) When Cody went to the physician with a sore elbow, after hearing Cody's symptoms and examining the elbow manually, Cody's physician had two options: (1) prescribe an anti-inflammatory drug and advise Cody to abstain from vigorous physical activity for a period; or (2) advise Cody to undergo a magnetic resonance imaging (MRI) exam, a costly diagnostic procedure. Which of the following physicians is more likely to recommend option 2?
a)A physician who is compensated under a conventional health insurance plan.
b)A physician who is part of an HMO.
c)A physician who is concerned about the marginal cost of an MRI.
d)All physicians would recommend option 2.
6) In the United States, the emergence of the third-party payment system has:
a)led health care costs to decrease over time.
b)led health care costs to increase over time.
c)had almost no impact on health care costs.
d)led people to consume less than the socially optimal level of health care.
7)According to the textbook, the percentage of gross domestic product devoted to healthcare between the years 1940 and 2013:
a)declined from 4% to less than 2%.
b)increased from 4% to about 6%.
c)increased from 4% to more than 17%.
d)increased from 4% to more than 40%.
8)The growth of medical insurance in general and first-dollar coverage specifically has reduced the marginal cost of treatment to the consumer. Therefore, the current level of medical treatment in the United States is:
a)equal to the efficient level.
b)less than the efficient level.
c)greater than the efficient level.
d)less than or equal to the efficient level.
This question was answered on: Sep 18, 2020
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