Economics EC248 – Quiz 6 – Practice Questions
Dr. Smith recommends a life saving procedure that he suspects Jimmy would not want. This is
best described as Dr. Smith acting as
the patient's agent
a perfect patient's agent
an imperfect patient's agent
the best possible agent. - correct answer ✔✔ an imperfect patient's agent
Chris does not tell his physician that he smokes cigarettes. This creates a situation where
need cannot be determined.
negative externalities exist.
appropriateness cannot be determined.
asymmetries of information exist. - correct answer ✔✔ asymmetries of information exist.
Which of the following statement best defines health care?
Health care is the set of goods and services provided by health care professionals.
Health care is the subset of goods and services primarily intended to maintain or improve
health.
Health care includes goods and services delivered by health care professionals with the primary
purpose of improving health and well-being.
Health care includes the goods and services delivered by individuals with specialized medical
expertise. - correct answer ✔✔ Health care includes goods and services delivered by health care
professionals with the primary purpose of improving health and well-being.
The following statement best describes the derived demand for health care.
we derive positive utility directly from the consumption of health care.
Dr. Smith recommends a life saving procedure that he suspects Jimmy would not want. This is
best described as Dr. Smith acting as
the patient's agent
a perfect patient's agent
an imperfect patient's agent
the best possible agent. - correct answer ✔✔ an imperfect patient's agent
Chris does not tell his physician that he smokes cigarettes. This creates a situation where
need cannot be determined.
negative externalities exist.
appropriateness cannot be determined.
asymmetries of information exist. - correct answer ✔✔ asymmetries of information exist.
Which of the following statement best defines health care?
Health care is the set of goods and services provided by health care professionals.
Health care is the subset of goods and services primarily intended to maintain or improve
health.
Health care includes goods and services delivered by health care professionals with the primary
purpose of improving health and well-being.
Health care includes the goods and services delivered by individuals with specialized medical
expertise. - correct answer ✔✔ Health care includes goods and services delivered by health care
professionals with the primary purpose of improving health and well-being.
The following statement best describes the derived demand for health care.
we derive positive utility directly from the consumption of health care.
