PUP 3002 Exam 2 FSU Exam Questions
With Correct Answers
In the United States, what is responsible for managing the supply of
| | | | | | | | | | | |
money in the economy? - CORRECT ANSWER✔✔-the federal reserve
| | | | | | | | |
board
_____ has to do with taxing and spending. - CORRECT ANSWER✔✔-
| | | | | | | | | |
fiscal policy |
What is the Nash equilibrium of the Ultimatum game where player 1
| | | | | | | | | | | |
starts with $10 and player 2 starts with $0? - CORRECT ANSWER✔✔-
| | | | | | | | | | |
player 1 receives $9 and player 2 receives $1
| | | | | | | |
The increase in the market value of the goods and services produced by
| | | | | | | | | | | | |
an economy is - CORRECT ANSWER✔✔-economic growth
| | | | | |
Card and Krueger (1994, 2000) studied the effects of minimum wage on
| | | | | | | | | | | |
employment in the fast food industry. They found evidence that an | | | | | | | | | | |
increase to the minimum wage resulted in - CORRECT ANSWER✔✔-an
| | | | | | | | | |
increase in employment | |
,_____ involves taking from the people who have more income and
| | | | | | | | | | |
giving to the people who do not have enough income. - CORRECT
| | | | | | | | | | | |
ANSWER✔✔-redistribution
During a recession, the Keynesian solution is for government spending
| | | | | | | | | |
to - CORRECT ANSWER✔✔-increase
| | |
Most people receive _____ in social security benefits compared to the
| | | | | | | | | | |
contributions that they put in. - CORRECT ANSWER✔✔-more | | | | | | |
Thousands of experimental studies have put to test the expectations of
| | | | | | | | | | |
the Ultimatum game and reveal that contributions are _____ the model
| | | | | | | | | | |
predicts. - CORRECT ANSWER✔✔-more than
| | | |
During a recession, the Classical solution is for government spending to -
| | | | | | | | | | |
CORRECT ANSWER✔✔-decrease
| |
Which of the following best illustrates moral hazard? - CORRECT
| | | | | | | | | |
ANSWER✔✔-A family does not install a smoke alarm because they have
| | | | | | | | | | |
fire insurance.
|
What is it called when the price of health insurance for an individual is
| | | | | | | | | | | | | |
based on the expected health costs of the larger population within
| | | | | | | | | | |
which they live? - CORRECT ANSWER✔✔-community rating
| | | | | |
, To correct for moral hazard problems, health insurers use - CORRECT
| | | | | | | | | | |
ANSWER✔✔-co-payments
In a(n) ____ program, recipients must demonstrate evidence of low
| | | | | | | | | |
income as well as other factors in order to be enrolled. - CORRECT
| | | | | | | | | | | | |
ANSWER✔✔-means-tested
The set of individuals covered by an insurance plan is called a - CORRECT
| | | | | | | | | | | | |
ANSWER✔✔-risk pool
| |
Some scholars argue that health systems developed by nations are
| | | | | | | | | |
____, with their current systems resulting from historical circumstances.
| | | | | | | |
- CORRECT ANSWER✔✔-path dependent
| | | |
The price of health insurance varies from individual to individual based
| | | | | | | | | | |
on characteristics like age, weight, and habits. These characteristics are
| | | | | | | | | |
part of an individual's - CORRECT ANSWER✔✔-risk profile
| | | | | | |
What is it called when the consumer pays for some agreed upon
| | | | | | | | | | | |
proportion of the bill if they use insurance? - CORRECT ANSWER✔✔-
| | | | | | | | | |
deductible
With Correct Answers
In the United States, what is responsible for managing the supply of
| | | | | | | | | | | |
money in the economy? - CORRECT ANSWER✔✔-the federal reserve
| | | | | | | | |
board
_____ has to do with taxing and spending. - CORRECT ANSWER✔✔-
| | | | | | | | | |
fiscal policy |
What is the Nash equilibrium of the Ultimatum game where player 1
| | | | | | | | | | | |
starts with $10 and player 2 starts with $0? - CORRECT ANSWER✔✔-
| | | | | | | | | | |
player 1 receives $9 and player 2 receives $1
| | | | | | | |
The increase in the market value of the goods and services produced by
| | | | | | | | | | | | |
an economy is - CORRECT ANSWER✔✔-economic growth
| | | | | |
Card and Krueger (1994, 2000) studied the effects of minimum wage on
| | | | | | | | | | | |
employment in the fast food industry. They found evidence that an | | | | | | | | | | |
increase to the minimum wage resulted in - CORRECT ANSWER✔✔-an
| | | | | | | | | |
increase in employment | |
,_____ involves taking from the people who have more income and
| | | | | | | | | | |
giving to the people who do not have enough income. - CORRECT
| | | | | | | | | | | |
ANSWER✔✔-redistribution
During a recession, the Keynesian solution is for government spending
| | | | | | | | | |
to - CORRECT ANSWER✔✔-increase
| | |
Most people receive _____ in social security benefits compared to the
| | | | | | | | | | |
contributions that they put in. - CORRECT ANSWER✔✔-more | | | | | | |
Thousands of experimental studies have put to test the expectations of
| | | | | | | | | | |
the Ultimatum game and reveal that contributions are _____ the model
| | | | | | | | | | |
predicts. - CORRECT ANSWER✔✔-more than
| | | |
During a recession, the Classical solution is for government spending to -
| | | | | | | | | | |
CORRECT ANSWER✔✔-decrease
| |
Which of the following best illustrates moral hazard? - CORRECT
| | | | | | | | | |
ANSWER✔✔-A family does not install a smoke alarm because they have
| | | | | | | | | | |
fire insurance.
|
What is it called when the price of health insurance for an individual is
| | | | | | | | | | | | | |
based on the expected health costs of the larger population within
| | | | | | | | | | |
which they live? - CORRECT ANSWER✔✔-community rating
| | | | | |
, To correct for moral hazard problems, health insurers use - CORRECT
| | | | | | | | | | |
ANSWER✔✔-co-payments
In a(n) ____ program, recipients must demonstrate evidence of low
| | | | | | | | | |
income as well as other factors in order to be enrolled. - CORRECT
| | | | | | | | | | | | |
ANSWER✔✔-means-tested
The set of individuals covered by an insurance plan is called a - CORRECT
| | | | | | | | | | | | |
ANSWER✔✔-risk pool
| |
Some scholars argue that health systems developed by nations are
| | | | | | | | | |
____, with their current systems resulting from historical circumstances.
| | | | | | | |
- CORRECT ANSWER✔✔-path dependent
| | | |
The price of health insurance varies from individual to individual based
| | | | | | | | | | |
on characteristics like age, weight, and habits. These characteristics are
| | | | | | | | | |
part of an individual's - CORRECT ANSWER✔✔-risk profile
| | | | | | |
What is it called when the consumer pays for some agreed upon
| | | | | | | | | | | |
proportion of the bill if they use insurance? - CORRECT ANSWER✔✔-
| | | | | | | | | |
deductible
