Home » Question:What proportion on the GDP is spent on health care? 0.2 0.75 0.18 0.30 2 points QUESTION 2 Which of the following options is incorrect about…

Question:What proportion on the GDP is spent on health care? 0.2 0.75 0.18 0.30 2 points QUESTION 2 Which of the following options is incorrect about…

Question:What proportion on the GDP is spent on health care?

  1. 0.2
  2. 0.75
  3. 0.18
  4. 0.30

2 points  


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

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

2 points  


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?

  1. 0.3
  2. 3.33
  3. -3.33
  4. -0.3

2 points  


What is a Cadillac plan?

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

2 points  


Demand for health care is not

  1. Downward sloping
  2. Sensitive to the price of health care
  3. Vertical
  4. Horizontal

2 points  


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

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

2 points  


Which factor affects health?

  1. Income
  2. Education
  3. Medical care
  4. All of the above

2 points  


On average who is less likely to be healthier?

  1. Highly educated individuals
  2. Whites vs. blacks
  3. Young adults vs. elderly
  4. Hispanics vs. whites

2 points  

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

  1. Direct income theory
  2. Efficient producer theory
  3. Productive time theory
  4. Allostatic load theory

2 points  


Which one applies to an impatient individual?

  1. Have high discount factors 
  2. Have low discount rates
  3. More likely to become a physician
  4. More likely to become a surfer

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