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 US health care?

Health care spending as a share of GDP has been steady from 2008 to 2012

The projected health care spending as a share of GDP in 2020 is lower than the current share.

Increase in life expectancy is one of the reasons of increase in health care costs

US is categorized as a country with high health care costs

2 points

QUESTION 3

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?

0.3

3.33

-3.33

-0.3

2 points

QUESTION 4

What is a Cadillac plan?

Health insurance plan for Cadillac company (car manufacturer)

A very generous employer-sponsored health insurance plan

There is no such plan

A very generous health plan for Cadillac owners

2 points

QUESTION 5

Demand for health care is not

Downward sloping

Sensitive to the price of health care

Vertical

Horizontal

2 points

QUESTION 6

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

In general it does not affect ones health

It might have some impact on high risk individuals

It affects healthy people

It has some impact on low-income individuals

2 points

QUESTION 7

Which factor affects health?

Income

Education

Medical care

All of the above

2 points

QUESTION 8

On average who is less likely to be healthier?

Highly educated individuals

Whites vs. blacks

Young adults vs. elderly

Hispanics vs. whites

2 points

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

Direct income theory

Efficient producer theory

Productive time theory

Allostatic load theory

2 points

QUESTION 10

Which one applies to an impatient individual?

Have high discount factors

Have low discount rates

More likely to become a physician

More likely to become a surfer

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