LSUS MHA 710 Economics Exam 3 Questions with 100% Correct
Answers Latest Graded A+
Question:
Which of the following characteristics is true of the pharmaceutical industry?
Answer:
Exclusive rights to market & sell patented products.
Question:
The tax fully dedicated to provide support for Medicare Part A is:
Answer:
A 2.9 percent payroll tax paid by all workers, regardless of their age.
Question:
Several reform options have been discussed by Congress to solve some of the structural problems
that plague the program. Which of the following options has received little support?
Answer:
Limit the coverage for end-of-life care, the most expensive single item in Medicare, to include only
essential palliative care.
Question:
Part B pays what percentage of the allowable fee set by Medicare?
Answer:
80 percent.
Question:
Which of the following statements is true concerning the trend in community hospital care between
inpatient & outpatient services since the mid-1980s?
Answer:
Outpatient services have been growing, while inpatient services have been declining.
Question:
, On average, biopharmaceutical companies spend approximately what percentage of their sales
revenue on research & development?
Answer:
5-10 percent.
Question:
In 2019, Medicare covered approximately how many Americans?
Answer:
60 milllion.
Question:
What was the main effect of the agreement on Trade-Related Aspects of Intellectual Property
Rights (TRIPS) on United States' domestic policy?
Answer:
It extended the life of patents from 17 years from the date of grant to 20 years from the date of
application.
Suppose the market for nursing services in a local community is so dominated by a single
community hospital that, for all practical purposes, it is considered a monopsony. Using the
diagram below, answer the question.
Question:
If the market were perfectly competitive instead of dominated by a monopsonist, what would the
equilibrium wage & level of employment be?
Answer:
W1 & E1.
Question:
In order to be a successful price discriminator, a provider must have a degree of market power
(depicted by a downward-sloping demand curve) & meet what other condition(s)?
Answer:
Markets must be segmentable, identifying differences in ability to pay.
Question:
The merger of 2 community hospitals located in the same geographic market is called:
Answers Latest Graded A+
Question:
Which of the following characteristics is true of the pharmaceutical industry?
Answer:
Exclusive rights to market & sell patented products.
Question:
The tax fully dedicated to provide support for Medicare Part A is:
Answer:
A 2.9 percent payroll tax paid by all workers, regardless of their age.
Question:
Several reform options have been discussed by Congress to solve some of the structural problems
that plague the program. Which of the following options has received little support?
Answer:
Limit the coverage for end-of-life care, the most expensive single item in Medicare, to include only
essential palliative care.
Question:
Part B pays what percentage of the allowable fee set by Medicare?
Answer:
80 percent.
Question:
Which of the following statements is true concerning the trend in community hospital care between
inpatient & outpatient services since the mid-1980s?
Answer:
Outpatient services have been growing, while inpatient services have been declining.
Question:
, On average, biopharmaceutical companies spend approximately what percentage of their sales
revenue on research & development?
Answer:
5-10 percent.
Question:
In 2019, Medicare covered approximately how many Americans?
Answer:
60 milllion.
Question:
What was the main effect of the agreement on Trade-Related Aspects of Intellectual Property
Rights (TRIPS) on United States' domestic policy?
Answer:
It extended the life of patents from 17 years from the date of grant to 20 years from the date of
application.
Suppose the market for nursing services in a local community is so dominated by a single
community hospital that, for all practical purposes, it is considered a monopsony. Using the
diagram below, answer the question.
Question:
If the market were perfectly competitive instead of dominated by a monopsonist, what would the
equilibrium wage & level of employment be?
Answer:
W1 & E1.
Question:
In order to be a successful price discriminator, a provider must have a degree of market power
(depicted by a downward-sloping demand curve) & meet what other condition(s)?
Answer:
Markets must be segmentable, identifying differences in ability to pay.
Question:
The merger of 2 community hospitals located in the same geographic market is called:
