LSUS MHA 710 Economics Exam Questions with 100% Correct
Answers Latest Graded A+
Question:
Which of the following represents the largest category of health care spending in the United States?
Answer:
Hospital Care
Question:
The direct effect of a shortage of hospital beds in a hospital services market is:
Answer:
Upward pressure on the price of a hospital stay.
Question:
All of the following will cause a shift in the medical care supply curve, except:
Answer:
A change in the percentage of the population with health insurance.
Question:
Assuming providers will accommodate patient desires, what effect would a binding price ceiling
have on the health care market?
Answer:
Price will decrease to adhere to the price ceiling & quantity will increase.
Question:
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?
Answer:
The price of prescription opiates will increase & the quantity consumed will decrease.
Question:
, 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:
Answer:
less than $1.30 million.
Question:
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?
Answer:
Demand for robot-assisted surgery will increase, & prices will rise.
Question:
If a hospital is experiencing economies of scale:
Answer:
Its average cost curve is negatively sloped as output increases.
Question:
Which of the following does NOT contribute to wasteful spending in medical care?
Answer:
Price transparency.
Question:
Which of the following statements is based on positive analysis?
Answer:
High health care prices are one of the primary reasons that the United States spends more on
medical care than other countries.
Question:
Which of the following is NOT considered to be a factor in the recent slowing of health care
spending?
Answer:
Growing U.S. gross domestic product (GDP).
Answers Latest Graded A+
Question:
Which of the following represents the largest category of health care spending in the United States?
Answer:
Hospital Care
Question:
The direct effect of a shortage of hospital beds in a hospital services market is:
Answer:
Upward pressure on the price of a hospital stay.
Question:
All of the following will cause a shift in the medical care supply curve, except:
Answer:
A change in the percentage of the population with health insurance.
Question:
Assuming providers will accommodate patient desires, what effect would a binding price ceiling
have on the health care market?
Answer:
Price will decrease to adhere to the price ceiling & quantity will increase.
Question:
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?
Answer:
The price of prescription opiates will increase & the quantity consumed will decrease.
Question:
, 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:
Answer:
less than $1.30 million.
Question:
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?
Answer:
Demand for robot-assisted surgery will increase, & prices will rise.
Question:
If a hospital is experiencing economies of scale:
Answer:
Its average cost curve is negatively sloped as output increases.
Question:
Which of the following does NOT contribute to wasteful spending in medical care?
Answer:
Price transparency.
Question:
Which of the following statements is based on positive analysis?
Answer:
High health care prices are one of the primary reasons that the United States spends more on
medical care than other countries.
Question:
Which of the following is NOT considered to be a factor in the recent slowing of health care
spending?
Answer:
Growing U.S. gross domestic product (GDP).
