LSUS MHA 710 ECONOMICS EXAM 1
QUESTIONS AND CORRECT ANSWERS|
LATEST UPDATE
Which of the following represents the largest category of health care spending
in the United States?
Hospital Care
The direct effect of a shortage of hospital beds in a hospital services market is:
Upward pressure on the price of a hospital stay.
All of the following will cause a shift in the medical care supply curve, except:
A change in the percentage of the population with health insurance.
Assuming providers will accommodate patient desires, what effect would a
binding price ceiling have on the health care market?
Price will decrease to adhere to the price ceiling & quantity will increase.
, Suppose the U.S. Food & Drug Administration restricts the amount of
prescription opiates produced & sold in the U.S. market. What is the likely effect
on the market for drugs used to control chronic pain the United States?
The price of prescription opiates will increase & the quantity consumed will
decrease.
The following graph depicts the market for CT scanners in the United States:
Assume an initial equilibrium at D1 and S1 with a price of $1.20 million per
machine. If the government places a $100,000 excise tax on each new scanner
sold, the new equilibrium price will be:
less than $1.30 million.
Suppose robotic technology improves the results of abdominal surgery—less
time to perform the surgery, faster recovery times, and fewer mistakes. What is
the impact on the market for abdominal surgery using this new technology?
Demand for robot-assisted surgery will increase, & prices will rise.
If a hospital is experiencing economies of scale:
Its average cost curve is negatively sloped as output increases.
QUESTIONS AND CORRECT ANSWERS|
LATEST UPDATE
Which of the following represents the largest category of health care spending
in the United States?
Hospital Care
The direct effect of a shortage of hospital beds in a hospital services market is:
Upward pressure on the price of a hospital stay.
All of the following will cause a shift in the medical care supply curve, except:
A change in the percentage of the population with health insurance.
Assuming providers will accommodate patient desires, what effect would a
binding price ceiling have on the health care market?
Price will decrease to adhere to the price ceiling & quantity will increase.
, Suppose the U.S. Food & Drug Administration restricts the amount of
prescription opiates produced & sold in the U.S. market. What is the likely effect
on the market for drugs used to control chronic pain the United States?
The price of prescription opiates will increase & the quantity consumed will
decrease.
The following graph depicts the market for CT scanners in the United States:
Assume an initial equilibrium at D1 and S1 with a price of $1.20 million per
machine. If the government places a $100,000 excise tax on each new scanner
sold, the new equilibrium price will be:
less than $1.30 million.
Suppose robotic technology improves the results of abdominal surgery—less
time to perform the surgery, faster recovery times, and fewer mistakes. What is
the impact on the market for abdominal surgery using this new technology?
Demand for robot-assisted surgery will increase, & prices will rise.
If a hospital is experiencing economies of scale:
Its average cost curve is negatively sloped as output increases.
