FHCE 3100 Test 3 Ch. 9 Questions with Detailed Verified Answers

Page | 1



FHCE 3100 Test 3 Ch. 9 Questions with
Detailed Verified Answers

Question:What percentage of your paycheck is taken out and goes into
medicare?


Ans: 1.45%


Question: What are two examples of social safety nets?


Ans: Medicare and medicaid


Question: What percentage of the GDP is spent on Health Care Services and
Supplies (2013)? What is this expected to increase to by 2017?


Ans: 18.3%; 20%


Question: A region's ______ _________ ______ is one of the ways of
measuring the size of it's economy. It is defined as the total market value of all
final goods and services produced within a country in a given period of time


Ans: Gross Domestic Product


Question: Economists at the government's Centers for Medicare and
Medicaid Services, reported U.S. health-care spending in 2013 at
$_____,____,____,___?

, Page | 2

Ans: $415,154,234,831


Question: For what service did the economists at the government's Center for
Medicare and Medicaid services report US health care spending in 2013 to be
$583 billion?


Ans: Medicare


Question: In 2013, spending on Medicare accounted for what percentage of
the federal budget?


Ans: 14%


Question: What do national surveys show that the primary reason people are
uninsured is?


Ans: The cost of health insurance coverage


Question: About how many families lose their homes to foreclosure every
year due to unaffordable medical costs? About 68% of those who filed for
bankruptcy had health insurance. (#)


Ans: 1.5 million


Question: What was the 2014 Annual Premium for a family of 4?


Ans: $16,834

, Page | 3

Question: Almost half of the world's wealth is now owned by just ____% of
the population.


Ans: 1%


Question: The wealth of the one percent richest people in the world amounts
to how much? ($)


Ans: $110 Trillion


Question: The _________ _____ of the world's population owns the same as
the richest 85 people in the world


Ans: bottom half


Question: In the US, the wealthiest 1% captured ___% of post-financial crisis
growth since 2009, while the bottom 90% became poorer.


Ans: 95%


Question: What was the official poverty rate in 2014?


Ans: 14.5%


Question: The decline in the poverty rate in 2014 was the first decrease in the
poverty rate since when?


Ans: 2006