Question Part 1 of 2 – 95.0/ 100.0 Points

Part 1 of 2 – 95.0/ 100.0 Points

Question 1 of 40 5.0/ 5.0 Points

Suppose, in the figure above that the rate regulator imposes price I. In response, the monopolist will:

A. lower price and increase quantity, leading to increased consumer surplus.

B. increase price and decrease quantity, leading to decreased consumer surplus.

C. keep quantity the same and accept reduced profits.

D. cease producing the good.

Question 2 of 40 5.0/ 5.0 Points

The Hawaii’s Keiki (Child) Care insurance program was halted because:

A. the program apparently crowded out other insurance coverage.

B. the program turned out a large and lucrative revenue flow.

C. there was extensive fraud in the program.

D. there were not personnel available to run the program.

Question 3 of 40 5.0/ 5.0 Points

Prospective payment generally reimburses hospitals at a/an: ?

A. sliding rate based on the hospital’s profitability.

B. increasing rate depending on the length of stay.

C. decreasing rate depending on the length of stay.

D. fixed rate.

Question 4 of 40 5.0/ 5.0 Points

Under the Patient Protection and Affordable Care Act, passed in 2010:

A. all residents will get health insurance by 2013.

B. all residents will get health insurance by 2016.

C. about 32 million of the 50 million uninsured (in 2010-2011) will get health insurance by 2020.

D. There is no firm timetable for universal health insurance.

Question 5 of 40 5.0/ 5.0 Points

Medicaid is particularly attractive to the states because:

A. it provides additional funds for the purchase of services for the poor.

B. it effectively raises the price per unit of medical care to the poor.

C. it increases the size of state governments.

D. the federal government pays for and provides specific guidelines as to how the money is allocated.

Question 6 of 40 5.0/ 5.0 Points

Medicare Part D provides improved coverage focusing on:

A. nursing home care.

B. pharmaceutical expenditures.

C. chronic illness.

D. managed care.

Question 7 of 40 0.0/ 5.0 Points

In the figure above, the welfare loss of monopoly is triangle: ?

A. ABC.

B. CDE.

C. EFG.

D. AIJ.

Question 8 of 40 5.0/ 5.0 Points

Analysts believe that Medicare’s share of GDP will rise because:

A. of increased numbers of beneficiaries.

B. of decreased costs per beneficiary.

C. of fraud in the Medicare system.

D. Medicaid is being phased out.

Question 9 of 40 5.0/ 5.0 Points

Under Shleifer’s yardstick pricing scheme:

A. hospitals achieve a Nash equilibrium because their own costs do not enter the optimization process.

B. hospitals will only participate if they will not lose profits.

C. the hospitals have an incentive to overstate their costs.

D. hospitals receive a qualitative equilibrium related to their costs.

Question 10 of 40 5.0/ 5.0 Points

Davis and Reynolds found that public assistance related to Medicare and Medicaid __________ health care utilization for recipients relative to those who did not receive public assistance.

A. increased

B. decreased

C. had no impact on

D. accelerated

Question 11 of 40 5.0/ 5.0 Points

Analysts believe that in the economic downturn of 2000-2003:

A. the number of uninsured did not change much because people bought more private insurance.

B. the number of uninsured did not rise much because employers provided more health insurance.

C. Medicaid take-up provided insurance for many who would have otherwise gone without insurance.

D. many households voluntarily reduced their health insurance.

Question 12 of 40 5.0/ 5.0 Points

In the figure above, box BCDH represents: ?

A. a revenue transfer from consumers to producers under monopoly.

B. part of the welfare loss of monopoly.

C. a result of rate regulation.

D. a revenue rebate from producers to consumers.

Question 13 of 40 5.0/ 5.0 Points

Within the past 20 years Medicaid has increasingly become the source of payment for: ?

A. pharmaceuticals.

B. the elderly.

C. long-term nursing home care.

D. industry regulators.

Question 14 of 40 5.0/ 5.0 Points

The Medicare Part D “doughnut hole” means that: ?

A. diet plans are not covered.

B. at a specified level of expenditures, the consumers’ incremental share jumps to near 100 percent.

C. the costs will put the system in financial jeopardy.

D. patients who do not maintain a healthy weight will be responsible for copayments.

Question 15 of 40 5.0/ 5.0 Points

Analysts expect the total number of Medicare beneficiaries to rise between the years 2010 and 2040, by approximately __________ million people.

A. 14

B. 21

C. 37

D. 40

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