1. Considerations of ____________ and ____________ cannot be disentangled from decisions about health care provision and distributions.
2. The United States spends approximately ____________ percent of GDP on health care, which is ____________ than any other industrialized nation.
3. The demand for health care and health care spending have both ____________ significantly over the past several decades.
4. Investment in health care would be likely to ___________ a society’s production possibilities curve over time.
5. The demand for medical care increased because of changes in ____________, ____________, and ____________.
6. When incomes rise, the demand for health care ___________, because health care is a ___________ good. 7. The demand curve for most health care is relatively ____________ with respect to price.
8. Insurance ____________ the price of health care to consumers and ____________ the quantity of health care services demanded.
9. ___________ exists in health care when insurance makes a person more likely to engage in more risky behavior and less likely to take preventative measures against illness.
10. Third-party payers attempt to reduce moral hazard problems with ____________ and ____________.
11. Asymmetric information, where patients know more about their health status than insurers, leads to the problem of ____________.
13. The chronically ill are ____________ likely to demand insurance than people in good health.
14. The ____________ cause a disproportionate share of health care expenses.
15. The supply of health care has ____________ slowly since 1960.
16. Primary care physicians act as ____________ to health care.
17. Escalating health care costs have led to a greater emphasis on ____________ containment.
18. The interaction of ____________ advances and ____________ significantly increased the demand for medical care.
19. Health care markets are imperfectly competitive because of legal and administrative barriers to ____________, economies of ____________, ____________, and restrictions on ____________.
20. Compulsory ____________ of physicians limits entry into the health care market.
21. In countries where medical care prices are controlled and health care is rationed, we would expect ____________ of medical care.
22. With health savings accounts, people would have to pay ____________ of their own money for health care, making them ____________ cost conscious.
23. Because health savings accounts are portable, unlike most employer-provided health insurance, they would ____________ flexibility in the job market.