4/ Consumers of health care use ______________ to obtain health care services. a

Question

4/ Consumers of health care use ______________ to obtain health care services.

a/copayments

b/deductibles

c/coinsurance payments and government-sponsored programs

d/ all of the above

7/ Asymmetric information can arise in which way?

a/adverse selection

b/principal–agent agenda

c/ unethical hazard

d/ all of the above

9/ On average, if the price of health care increased, the quantity demanded for health care would

a/decrease by less than the price increase.

b/decrease by more than the price increase.

c/increase by more than the price increase.

d/stay the same.

10/ People with health insurance are __________ their quantity demanded of doctor’s office visits compared to those without health insurance.

a/ less likely to increase

b/more likely to increase

c/ more likely to decrease

d/ indifferent to increasing 1

2/ Because of barriers to entry, the wages of physicians and nurses are ______ and quantity demanded is ______, causing a ______ from the previous market equilibrium.

a/higher; lower; shortage

b/ lower; higher; surplus

c/higher; lower; surplus

d/lower; higher; shortage

Explanation / Answer

4. d/ all of the above

A deductible is the amount that consumer pay for health care services before your health insurance begins to pay. Coinsurance is the share of cost of a health care service. A copay or copayment is a fixed amount that a consumer pay for a health care service, usually when you he receives the service.

7. d/ all of the above

9. a/decrease by less than the price increase.

10. a/ less likely to increase because they are insured so they want to spend less on the visits to the doctors.

2. b/ lower; higher; surplus

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