Question:What proportion on the GDP is spent on health care?
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
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?
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
Demand for health care is not
- Downward sloping
- Sensitive to the price of health care
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
Which factor affects health?
- Medical care
- All of the above
On average who is less likely to be healthier?
- Highly educated individuals
- Whites vs. blacks
- Young adults vs. elderly
- Hispanics vs. whites
QUESTION 9Which theory explains the effect of health on income?
- Direct income theory
- Efficient producer theory
- Productive time theory
- Allostatic load theory
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