Page 1 of 12
LSUS MHA 710 ECONOMICS EXAM 1 | {LATEST
2026/ 2027 UPDATE} COMPLETE ACTUAL AND
AUTHENTIC EXAM | BRAND NEW!
Since 1950, U.S. health care spending has grown from an
average of 4.5 percent of GDP to an estimated forecast of
_____ percent of GDP in 2020.
18
Which of the following represents the largest category of
health care spending in the United States?
Hospital Care
Suppose the market for hospital outpatient treatment is in
equilibrium when a price ceiling is set below the equilibrium
price. What do you expect to happen?
A shortage will develop.
, Page 2 of 12
The dead-weight loss from an excise tax:
Is caused by a shift in consumer preferences when the tax is
raised.
According to Adam Smith's terminology, the "invisible hand"
refers to:
Market forces working through the price mechanism.
Suppose you are a politician being criticized in a debate for
your commitment to reducing the growth of medical
spending. Which of the following is the most appropriate
response?
Reducing wasteful heath care spending could provide
additional funding to the education sector.
LSUS MHA 710 ECONOMICS EXAM 1 | {LATEST
2026/ 2027 UPDATE} COMPLETE ACTUAL AND
AUTHENTIC EXAM | BRAND NEW!
Since 1950, U.S. health care spending has grown from an
average of 4.5 percent of GDP to an estimated forecast of
_____ percent of GDP in 2020.
18
Which of the following represents the largest category of
health care spending in the United States?
Hospital Care
Suppose the market for hospital outpatient treatment is in
equilibrium when a price ceiling is set below the equilibrium
price. What do you expect to happen?
A shortage will develop.
, Page 2 of 12
The dead-weight loss from an excise tax:
Is caused by a shift in consumer preferences when the tax is
raised.
According to Adam Smith's terminology, the "invisible hand"
refers to:
Market forces working through the price mechanism.
Suppose you are a politician being criticized in a debate for
your commitment to reducing the growth of medical
spending. Which of the following is the most appropriate
response?
Reducing wasteful heath care spending could provide
additional funding to the education sector.
