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QUESTION 1 1- Which program has the highest expenditure per enrollee in the US? Medicaid Medicare Employer-sponsored health insurance Non-group health insurance 1 points QUESTION 2 1- Which statement is correct about US expenditure on health care in 2008? One out of every six dollars spent in the U.S. was spent on health care One out of every eight dollars spent in the U.S. was spent on health care One out of every four dollars spent in the U.S. was spent on health care One out of every ten dollars spent in the U.S. was spent on health care 1 points QUESTION 3 1- 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 2025 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 1 points QUESTION 4 1- Demand falls by 3 percent for every 10 percent increase in the price of health care services. How much is the absolute own price elasticity of demand for health care? 0.3 -3.33 3.33 -0.3 1 points QUESTION 5 1- The demand for healthcare is ……………. if the own price elasticity of demand is -0.2. Elastic Inelastic Unitary elastic None of the above 1 points QUESTION 6 1- US demand for health care is Downward sloping Sensitive to the price of health care Inelastic All of the above 1 points QUESTION 7 1- What share of the healthcare spending the US government is responsible for? One third One fifth Half Almost all the costs 1 points QUESTION 8 1- Which graph shows a perfectly inelastic demand? 1 points QUESTION 9 1- The findings of which study design is most reliable? Natural experiments Observational studies Randomized experiments None of the above 1 points QUESTION 10 1- Which of the following options is correct about the RAND Health Insurance experiment It only includes low-income individuals The sample is limited to one state The experiment started mid 70s. There are only two groups of health plans; free and full cost plans 1 points QUESTION 11 1- Which of the following statement is true? Unlike with most types of goods, deriving a demand curve for health care is quite simple because people rarely skimp on health care. The Oregon Medicaid Experiment is not truly “randomized” because lottery winners did not all end up with insurance, and some lottery losers did end up with insurance. The RAND study was especially useful for measuring price elasticities because it randomly assigned insurance plans to participants (as opposed to letting them choose). None of the above 1 points QUESTION 12 1- Which of the following option is not correct? Death rate has been on a decline in the US since 1940 Number of deaths has been increasing in the US since 1940 Men have lower mortality rate than women in the US Infant mortality rate has gone down overall in the US 1 points QUESTION 13 1- What is the leading causes of death in those between 15 and 25? Heart attack Cancer HIV Accidents 1 points QUESTION 14 1- Which one of the following options is not among the top three actual causes of death? Obesity Alcohol Illicit drug abuse Tobacco 1 points QUESTION 15 1- Looking at the aggregate country-level data on healthcare costs and income, one can conclude Healthcare is an inferior good Healthcare is a normal good There is a direct relationship between income and demand for healthcare Both b and c are correct 1 points QUESTION 16 1- Which one is not correct about the relationship between income and health status? On average, high income individuals are healthier regardless of age For high income individuals, health depreciates less by age compared to low-income people Income seems to be more effective in improving health for those 65 and older compared to those between 35 and 44 None of the above 1 points QUESTION 17 1- Which statement is not correct? Unlike in the U.S., there are no socioeconomic status gradients in health in countries that provide universal health care coverage to all citizens. That is, in such countries, poorer and richer citizens have (on average) the same health Health status earlier in life is a good predictor of wealth later in life The thrifty phenotype hypothesis states that early life events after birth have a strong influence on health status even in adulthood In a study of babies born during the Dutch famine toward the end of World War II, those exposed to the famine in utero were more likely than those not as exposed to be obese as adults 1 points QUESTION 18 1- Which statement is true? The full economic cost of medical school includes mainly tuition, room, and board for the school The number of U.S. medical schools decreased drastically between 1900 and 1950 If physicians are earning monopoly rents, then there must be more barriers to entry in the labor market for physicians than is socially optimal Physicians in the United States are licensed to practice medicine immediately after they complete medical school 1 points QUESTION 19 1- Which one is false about US hospital industry? American hospital admission rates have dropped in the past two decades Lower values of the Herfindahl-Hirschman index indicate higher levels of competition Medical arms races do not lead to socially optimal levels of technology acquisition by hospitals Nonprofit hospitals can legally raise funds by issuing stock 1 points QUESTION 20 1- Number of outpatient visits has…… and number of hospital beds has……. Over the last four decades in the US. Increased, increased Decreased, decreased Increased, decreased Decreased, Increased 1 points QUESTION 21 1- The US hospital market is a………………………market Competitive Monopolistic Differentiated product oligopolistic Monopolistically competitive 1 points QUESTION 22 1- Which option is true about the price of health care services? In general it does not affect ones health It might have some impact on high risk individuals It has some impact on low-income individuals All of the above 1 points QUESTION 23 1- Which factor affects health? Diet Education Medical care All of the above 1 points QUESTION 24 1- On average ………. are less likely to be healthier compared to ………..? Highly educated individuals, low-educated individuals Whites, blacks Young adults, elderly Hispanics, whites 1 points QUESTION 25 1- Which theory explains the effect of stress on health? Direct income theory Efficient producer theory Productive time theory Allostatic load theory 1 points QUESTION 26 1- Which of the following statement is false? In an actuarially fair insurance contract, the insurance premium equals the probability of sickness times the payout amount. A risk averse individual prefers a certain outcome to an uncertain outcome with the same expected income. When insurance is fair, in a sense, it is also free. Under partial insurance, income in the sick state with insurance is higher than income in the healthy state. 1 points QUESTION 27 1- If the discount rate is 0.1, then the discount factor is 0.91 1.1 0.3 0.51 1 points QUESTION 28 1- Given that Is is income when an individual is sick and has no coverage and IH is income when healthy and uncovered. When covered, IS’ and IH’ are income when sick and healthy, respectively. Then IS > IH IS’ > IS IH’ > IH IS’ > IH’ 1 points QUESTION 29 1- Most individuals are Risk lovers Risk averse Risk neutral Both a and c 1 points QUESTION 30 1- IS’ and IH’ are income when sick and healthy, respectively, when covered with health insurance. Full insurance implies IS’ = IH’ IS’ > IH’ IS’ < IH' None of the above

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