LSUS MHA 710 Economics Exam 1 Questions With Verified Answers.

LSUS MHA 710 Economics Exam 1 Questions With Verified Answers. Which of the following represents the largest category of health care spending in the United States? - answerHospital Care The direct effect of a shortage of hospital beds in a hospital services market is: - answerUpward pressure on the price of a hospital stay. All of the following will cause a shift in the medical care supply curve, except: - answerA 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? - answerPrice 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? - answerThe 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: - answerless 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? - answerDemand for robot-assisted surgery will increase, & prices will rise. If a hospital is experiencing economies of scale: - answerIts average cost curve is negatively sloped as output increases. Which of the following does NOT contribute to wasteful spending in medical care? - answerPrice transparency. Which of the following statements is based on positive analysis? - answerHigh health care prices are one of the primary reasons that the United States spends more on medical care than other countries. Which of the following is NOT considered to be a