HEALTHCARE ECONOMICS MIDTERM SG NUR4280 | ACTUAL QUESTIONS AND ANSWERS |
WITH COMPLETE SOLUTION.
What proportion on the GDP is spent on health care? - (answer)0.18
Has health spending risen or fallen from 2008-2020 - (answer)Risen
What was the health spending as a share of GDP in 2012? - (answer)17.2%
What is the health spending as a share of GDP expected to be in 2022P? - (answer)19.9%
By how much did the Health spending per Capita in the U.S. change from 2012-2014 - (answer)about
$1,000
In terms of medicare and medicaid, has health insurance spending per enrollee increased or decreased
from 2012-2014? - (answer)increased
How much was the U.S. GDP in 2008? - (answer)$14 trillion dollars
How much out $1 out of how many dollars was spent in the U.S. presently? - (answer)$1/$6
In 1960 $1 out of how many dollars was spent towards healthcare? - (answer)barely $1/$20
Has the cost of healthcare increased relatively around the world? - (answer)Yes
Out of the world which country spends the most on health care? - (answer)The U.S.
From 1960 to 2008 the health care expenditure in the U.S. has risen from - (answer)5% GDP {1960}
to 16% GDP {2008}
What are two interesting economic properties? - (answer)uncertainty and contagiousness
,HEALTHCARE ECONOMICS MIDTERM SG NUR4280 | ACTUAL QUESTIONS AND ANSWERS |
WITH COMPLETE SOLUTION.
most people can predict how many bananas or TV's they will buy in the next week, but not how many
emergency heart surgeries they will need in the next week - (answer)Uncertainty {interesting economic
property}
It doesn't matter to you if your neighbor buys bananas or a TV but it does matter if he skips the flu shot -
(answer)Contagiousness
What are some examples that can cause an increased demand for expensive health care services? -
(answer)heart attack, broken leg, other unforeseen incidents.
What does health related uncertainties motivate people to do? - (answer)Demand health insurance
Does demand in health insurance create a problem{s} what are they? - (answer)adverse selection and
moral hazard
Do adverse selection and moral hazard make health policy really difficult or easy? - (answer)difficult
The fact that other people's health decisions affect you creates______ - (answer)externalities
Examples of a positive externality - (answer)vaccinations and other preventative measures create
positive externalities
examples of negative externality - (answer)going out in public with Ebola virus creates negative
externalities
What effect do externalities have on the function of markets? - (answer)externalities undermine the
efficient function of markets
If externalities undermine the efficient function of markets, what is required? - (answer)Government
intervention
, HEALTHCARE ECONOMICS MIDTERM SG NUR4280 | ACTUAL QUESTIONS AND ANSWERS |
WITH COMPLETE SOLUTION.
Examples of countries where the government is responsible for the vast majority of health expenditures.
- (answer)Canada, Sweden, United Kingdom
Even in the US, with its private health care system, the
government is responsible for _____ of all health care spending - (answer)half of all health care
spending
normative questions - (answer)a question whose answer is based on an opinion: Should everyone
receive health care?
positive questions - (answer)How much would it cost to provide free checkups and drugs for everyone in
a population? Questions that can be answered
What are some of the maladies that can occur in private markets? - (answer)adverse selection, moral
hazard, and monopolistic firms
Standard economic demand curves are _____ sloping? - (answer)downward sloping
What does elasticity measure? - (answer)The degree of downward sloping
Elastic demand D{E} is price insensitive or sensitive? - (answer)Elastic demand is price sensitive
What is the definition price sensitive? - (answer)changes in price greatly affect the quantity demanded
Inelastic demand D{I} is price insensitive or sensitive? - (answer)Inelastic demand is price insensitive
What is the definition of price insensitive? - (answer)Price insensitive means that changes in price do not
significantly change the quantity demanded
WITH COMPLETE SOLUTION.
What proportion on the GDP is spent on health care? - (answer)0.18
Has health spending risen or fallen from 2008-2020 - (answer)Risen
What was the health spending as a share of GDP in 2012? - (answer)17.2%
What is the health spending as a share of GDP expected to be in 2022P? - (answer)19.9%
By how much did the Health spending per Capita in the U.S. change from 2012-2014 - (answer)about
$1,000
In terms of medicare and medicaid, has health insurance spending per enrollee increased or decreased
from 2012-2014? - (answer)increased
How much was the U.S. GDP in 2008? - (answer)$14 trillion dollars
How much out $1 out of how many dollars was spent in the U.S. presently? - (answer)$1/$6
In 1960 $1 out of how many dollars was spent towards healthcare? - (answer)barely $1/$20
Has the cost of healthcare increased relatively around the world? - (answer)Yes
Out of the world which country spends the most on health care? - (answer)The U.S.
From 1960 to 2008 the health care expenditure in the U.S. has risen from - (answer)5% GDP {1960}
to 16% GDP {2008}
What are two interesting economic properties? - (answer)uncertainty and contagiousness
,HEALTHCARE ECONOMICS MIDTERM SG NUR4280 | ACTUAL QUESTIONS AND ANSWERS |
WITH COMPLETE SOLUTION.
most people can predict how many bananas or TV's they will buy in the next week, but not how many
emergency heart surgeries they will need in the next week - (answer)Uncertainty {interesting economic
property}
It doesn't matter to you if your neighbor buys bananas or a TV but it does matter if he skips the flu shot -
(answer)Contagiousness
What are some examples that can cause an increased demand for expensive health care services? -
(answer)heart attack, broken leg, other unforeseen incidents.
What does health related uncertainties motivate people to do? - (answer)Demand health insurance
Does demand in health insurance create a problem{s} what are they? - (answer)adverse selection and
moral hazard
Do adverse selection and moral hazard make health policy really difficult or easy? - (answer)difficult
The fact that other people's health decisions affect you creates______ - (answer)externalities
Examples of a positive externality - (answer)vaccinations and other preventative measures create
positive externalities
examples of negative externality - (answer)going out in public with Ebola virus creates negative
externalities
What effect do externalities have on the function of markets? - (answer)externalities undermine the
efficient function of markets
If externalities undermine the efficient function of markets, what is required? - (answer)Government
intervention
, HEALTHCARE ECONOMICS MIDTERM SG NUR4280 | ACTUAL QUESTIONS AND ANSWERS |
WITH COMPLETE SOLUTION.
Examples of countries where the government is responsible for the vast majority of health expenditures.
- (answer)Canada, Sweden, United Kingdom
Even in the US, with its private health care system, the
government is responsible for _____ of all health care spending - (answer)half of all health care
spending
normative questions - (answer)a question whose answer is based on an opinion: Should everyone
receive health care?
positive questions - (answer)How much would it cost to provide free checkups and drugs for everyone in
a population? Questions that can be answered
What are some of the maladies that can occur in private markets? - (answer)adverse selection, moral
hazard, and monopolistic firms
Standard economic demand curves are _____ sloping? - (answer)downward sloping
What does elasticity measure? - (answer)The degree of downward sloping
Elastic demand D{E} is price insensitive or sensitive? - (answer)Elastic demand is price sensitive
What is the definition price sensitive? - (answer)changes in price greatly affect the quantity demanded
Inelastic demand D{I} is price insensitive or sensitive? - (answer)Inelastic demand is price insensitive
What is the definition of price insensitive? - (answer)Price insensitive means that changes in price do not
significantly change the quantity demanded
