The System of Third-Party Payment for Medical Care in the United

question 19

Multiple Choice

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?

• A)It improves efficiency in the market.
• B)It causes the marginal social benefit of health care to exceed its marginal social cost.
• C)It causes the marginal social cost of health care to exceed its marginal social benefit.
• D)It results in less than the efficient quantity of health care services.

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Definitions:

Neuroticism

A personality trait characterized by tendencies towards anxiety, moodiness, worry, envy, and jealousy.

Conscientiousness

A personality trait characterized by being thorough, careful, or vigilant; encompassing traits like organized, hardworking, and dependable.

Agreeableness

A personality trait characterized by compassion, cooperativeness, and a desire to maintain harmonious relationships.

Openness

A personality trait that involves being receptive to new ideas, experiences, and varying perspectives.