Health Economics and Policy Study Set 1

Charging higher prices for one category of patients in order to provide free or subsidized care to another group is called

Self-insurance refers to: the practice of setting aside funds to pay for medical care expenses instead of paying premiums to an insurance company. Approximately, _______ of all employees who participate in group insurance plans work for firms that self-insure.

Which of the following is not a characteristic that makes medical care different from other commodities?

Opportunity cost is a measure of

Economists use the term "marginal" to describe costs and benefits

According to recent public opinion polls, what percentage of Americans are satisfied with the quality of the medical care they receive?

The opportunity cost of investing in a new lithotripter a machine that pulverizes kidney stones with sound waves) is

According to economic theory what is the optimal percentage of GDP to be spent on medical care?

Which of the following statements is based on positive analysis?

The 1974 federal legislation that exempted employers from certain state laws governing health insurance was

The "invisible hand" using Adam Smith's terminology refers to