ECO 450 Week 6 Quiz 4


Category: ECO 450 Tag: eco 450


ECO 450 Week 6 Quiz 4 Chapter 4 and 5

  1. The Social Security retirement system:
  2. A retiree subject to the earnings test under Social Security:
  3. A worker earns $2,000 per month before taxes. He pays $140 per month payroll tax on those wages. In addition, the income taxes on those wages are $360 per month. On retirement, the worker receives a Social Security pension of $750 per month. Which of the following statements is true?
  4. Unless legislation is introduced to change the normal retirement age, people born in 1960 or later will be able to retire with full Social Security benefits at age:
  5. Which of the following can decrease tax rates necessary to pay pensions for a pay-as-you-go pension system?
  6. A nation has 40 million current retirees and a work force of 100 million. Which of the following is true?
  7. The gross replacement rate:
  8. A pay-as-you-go social security retirement system is:
  9. Social Security tax rates can be reduced if:
  10. The asset-substitution effect of the Social Security retirement system leads all workers to:
  11. Which of the following is a consequence of a growing federal budget deficit in the United States?
  12. Given the structure and level of gross replacement rates and the expected future growth of labor earnings subject to the payroll tax, the tax rates used to tax payrolls were increased in the 1980s because:
  13. The induced-retirement effect of the Social Security pension system induces workers to:
  14. Unemployment insurance benefits are:
  15. The Social Security Act was implemented in the United States in:
  16. Which of the following is an example of the “moral hazard of health insurance”?
  17. Which of the following subsidizes private provision of health insurance?
  18. In the United States, individuals pay approximately what percent of the cost of their medical care directly to providers?
  19. Since 1960, expenditures on health care as a percent of GDP has:
  20. The percent of total health care costs in the United States paid for by governments is approximately:
  21. Which of the following programs accounts for the greatest amount of government expenditures on public health in the United States?
  22. The government program that provides the health insurance to the poor in the United States is called:
  23. Which of the following is true about the Medicaid program in the United States?
  24. Most of the medical bills of Americans in the United States are paid by:
  25. What would be the effect of having no health insurance available?
  26. The elderly are what proportion of beneficiaries of Medicare?
  27. If the quantity of healthcare is more than the efficient quantity, what is the consequence?
  28. Which of the following could help decrease the rate of increase of spending on health care in the United States?
  29. What is the moral hazard associated with third party payment for health services?
  30. The system of third-party payment for medical care in the United States has which of the following effects in the market for health care?