orrect

Question 1

0/ 0.2pts

Which of the following is the most complete list of the sources of market failure in the provision of health care (and only includes sources of market failure)?

(i) High health care prices;

(ii) Asymmetric Information;

(iii) Uncertainty;

(iv) Deductibles;

(v) Externalities;

(vi) Barriers to entry;

(vii) No consumer sovereignty;

(viii) Government mandates.

All of (i), (ii), (iii), (v), and (viii).

All except (iv).

All of (ii), (iii), (v), (vi), and (vii).

All of the answers: (i) through (viii).

All of (ii), (v), (vi), and (vii).

Incorrect

Question 2

0/ 0.2pts

Market failure(s) in the market for health care lead(s) to which of the following:

(i) too few people get vaccinated against the measles;

(ii) People being unable to pay for unexpected expensive health care needs;

(iii) Demand for health insurance;

(iv) Higher prices for health care.

(i), (ii), and (iii), only.

(iv), only.

All of (i), (ii), (iii), and (iv).

(ii) and (iii), only.

(i), only.

Incorrect

Question 3

0/ 0.2pts

Sometimes, governments intervene in markets to try to make residents of their nation better-off.Medicare is a government response to which market failure in the market for health care?

Barriers to entry.

Asymmetric information.

Externalities.

No consumer sovereignty.

Derived demand.

Incorrect

Question 4

0/ 0.2pts

Sometimes, governments intervene in markets to try to make residents of their nation better-off. Mandatory licensure of practicing medical doctors is a government response to which market failure in the provision of health care?

Externalities.

Asymmetric Information.

Barriers to entry.

Mandatory licensure of physicians creates a barrier to entry.

Price discrimination.

Uncertainty.

Incorrect

Question 5

0/ 0.2pts

Which of the following is an example of a NEGATIVE externality in health care?

Over-use of antibiotics leading to the emergence of antibiotic resistant infections.

We cannot plan our health care expenditure.

Doctors getting their patients to come for too many followup visits.

Your risk of catching the flu from your roommate, is lower if they got a flu shot.

Price discrimination.