(1) The health care market in the United States is characterized by: A) consider
ID: 2441615 • Letter: #
Question
(1) The health care market in the United States is characterized by:
A) considerable government involvement. B) third-party payment of health care costs. C) asymmetric information between providers and consumers. D) All of these
(2) Which of the following is NOT a reason for the increase in health care costs?:
A) the decrease in the fertility rate B) the aging of the population C) the implementation of new technologies D) the increase in third party payments
(3) Unequal pay that is caused by economic discrimination will be due to:
A) a noneconomic factor. B) differences in the marginal revenue product. C) difference in human capital. D) a monopolistic labor market.
(4) Use the information in the table below. The top 40 percent of the population earn:
A) 44.4 percent of the income. B) 50.0 percent of the income. C) 66.7 percent of the income. D) 55.5 percent of the income.
Explanation / Answer
1) Solution: All of these
Explanation: Intervention of U.S. government, third party payments, and asymmetric information between providers and consumers have an influence of health care market in the United States
2) Solution: the decrease in the fertility rate
Explanation: A fall in the fertility rate is NOT a reason for the increase in health care costs
3) Solution: differences in the marginal revenue product
Explanation: Unequal pay due to the economic discrimination occurs due to differences in the marginal revenue product
4) Solution: 66.7 percent of the income
Explanation: 40% of population: 40/100 * 4 = 1.6 or 2 people
Top 2 people income = $3000 + $2,000 = $5000
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