Reference no: EM13800795

1. Behavioral economics studies how __________ influences the decision-making process.

a. the weather pattern

b. rational economic action

c. human psychology

d. the financial sector

e. macroeconomics

2. What is one cited reason why healthcare expenditures are so high in the United States?

a. Medicare and Medicaid reduce the supply of medical care.

b. Doctors know patients are likely covered by insurance, which reduces the demand for medical care.

c. Insurance companies attempt to control medical care costs by capping expenditures.

d. Patients covered by insurance consume too little health care.

e. Doctors know patients are likely covered by insurance and increase the supply of medical care.

3. What is one cited reason why healthcare expenditures are so high in the United States?

a. Medicare and Medicaid reduce the supply of medical care.

b. Doctors know patients are likely covered by insurance, which reduces the demand for medical care.

c. Government-sponsored forms of health insurance increase the demand for medical care by the elderly and the poor.

d. Insurance companies attempt to control medical care costs by capping expenditures.

e. Patients covered by insurance consume too little health care.