LSUS MHA 710 ECONOMICS 2024/2025 EXAM 1 NEWEST!! ACTUAL
COMPLETE ALL 140 REAL EXAM QUESTIONS AND CORRECT
ANSWERS (VERIFIED ANSWERS ) ALREADY GRADED A+.
Which of the following represents the largest category of health care
spending in the United States? - ANSWER-
Hospital
Care
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.
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.
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.
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.
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.
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.
If a hospital is experiencing economies of scale: - ANSWER-Its
average cost curve is negatively sloped as output
increases.
Which of the following does NOT contribute to wasteful spending in
medical care? - ANSWER-Price transparency.
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.
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).
If two women receive the same hip replacement procedure at a
hospital, but are charged differently, it is an
example of: - ANSWER-
Price discrimination.
Which of the following is NOT a personal health expenditure? -
ANSWER-Program administration.
, Inoculation programs against certain disease such as small pox,
polio, & whooping cough create: - ANSWER-
Positive externalities
in consumption.
The cost to society resulting from taxation to finance government
spending is called: - ANSWER-deadweight loss.
In the 1960s, individuals paid for the majority of their medical care
out of pocket. Increased insurance coverage, both private & public,
displaced out-of-pocket spending as the primary source of payment.
By 2020, what was the forecasted percentage amount of health care
spending paid by individuals? - ANSWER-10.4 percent
Supply curves are positively sloped because of: - ANSWER-The
increasing opportunity cost of resources.
All of the following will change the demand for office visits to a
physician, except: - ANSWER-A change in the price
of an
office
visit.
Self-insurance refers to the practice of setting aside funds to pay for
medical care expenses instead of paying premiums to an insurance
company. Approximately, how many of all employees who
participate in group insurance plans work for firms that self-insure? -
ANSWER-Two-thirds.
Since ACA was passed in 2010, there have been many efforts to have
the bill thrown out or at least watered down.
Most attempts have been unsuccessful. However, one key
elements of ACA was successful, which was to: -
ANSWER-Eliminate the tax penalty
for the individual mandate.
COMPLETE ALL 140 REAL EXAM QUESTIONS AND CORRECT
ANSWERS (VERIFIED ANSWERS ) ALREADY GRADED A+.
Which of the following represents the largest category of health care
spending in the United States? - ANSWER-
Hospital
Care
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.
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.
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.
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.
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.
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.
If a hospital is experiencing economies of scale: - ANSWER-Its
average cost curve is negatively sloped as output
increases.
Which of the following does NOT contribute to wasteful spending in
medical care? - ANSWER-Price transparency.
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.
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).
If two women receive the same hip replacement procedure at a
hospital, but are charged differently, it is an
example of: - ANSWER-
Price discrimination.
Which of the following is NOT a personal health expenditure? -
ANSWER-Program administration.
, Inoculation programs against certain disease such as small pox,
polio, & whooping cough create: - ANSWER-
Positive externalities
in consumption.
The cost to society resulting from taxation to finance government
spending is called: - ANSWER-deadweight loss.
In the 1960s, individuals paid for the majority of their medical care
out of pocket. Increased insurance coverage, both private & public,
displaced out-of-pocket spending as the primary source of payment.
By 2020, what was the forecasted percentage amount of health care
spending paid by individuals? - ANSWER-10.4 percent
Supply curves are positively sloped because of: - ANSWER-The
increasing opportunity cost of resources.
All of the following will change the demand for office visits to a
physician, except: - ANSWER-A change in the price
of an
office
visit.
Self-insurance refers to the practice of setting aside funds to pay for
medical care expenses instead of paying premiums to an insurance
company. Approximately, how many of all employees who
participate in group insurance plans work for firms that self-insure? -
ANSWER-Two-thirds.
Since ACA was passed in 2010, there have been many efforts to have
the bill thrown out or at least watered down.
Most attempts have been unsuccessful. However, one key
elements of ACA was successful, which was to: -
ANSWER-Eliminate the tax penalty
for the individual mandate.
