Question 14(5 points)

Consumers have perfect information in most healthcare market settings.

Question 14 options:

TrueFalse

Question 15(5 points)

Which one of the following is the main driver of comparative statics?

Question 15 options:

Price

Demand

Supply

Margin

Question 16(5 points)

Which of the following describes the consumer surplus?

Question 16 options:

What consumers are forced to pay versus what they would be willing to pay

What consumers supply to the market versus what they take

What consumers think of the market versus what the market actually is

What consumers are willing to pay versus what they actually pay

Question 17(5 points)

Which one of the following is a way that government regulates healthcare markets in the United States?

Question 17 options:

Taking over the complete supply

Creating more demand

Creating legislation

Administering all healthcare plans

Question 18(5 points)

Which one of the following is/are an example of a public good?

Question 18 options:

Cell phone

Street light

Groceries

Car

Question 19(5 points)

Which of the following is a reason why healthcare markets are so challenging?

Question 19 options:

Barrier entry is very low.

The requirements to become a healthcare worker are very insignificant.

Healthcare is a very rapidly changing system.

Healthcare costs do not change that much over time

Question 20(5 points)

Which one of the following is/are likely to affect the supply curve?

Question 20 options:

Technology in production

Income changes

Number of consumers

Consumer preferences