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Exam (elaborations)

LSUS MHA 710 Economics Exam 1 Questions And Answers

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LSUS MHA 710 Economics Exam 1 Questions And Answers LSUS MHA 710 Economics Exam 1 Questions And Answers LSUS MHA 710 Economics Exam 1 Questions And Answers

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LSUS MHA 710 Economics
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LSUS MHA 710 Economics

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Uploaded on
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Written in
2024/2025
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LSUS MHA 710 Economics Exam 1
Questions And Answers
Arhealthrinsurancerarrangementrwhererindividualsrhaveraccessrtorhealthrcarerinrexchangerf
orrarsetrpremiumrisrcalled:r-rCORRECTrrANSWER-Third-partyrpaymentrsystem.

AccordingrtorAdamrSmith'srterminology,rther"invisiblerhand"rrefersrto:r-
rCORRECTrrANSWER-Marketrforcesrworkingrthroughrtherpricermechanism.




Allrofrtherfollowingrwillrcauserarshiftrinrthermedicalrcarersupplyrcurve,rexcept:r-
rCORRECTrrANSWER-Archangerinrtherpercentagerofrtherpopulationrwithrhealthrinsurance.




Allrofrtherfollowingrwillrchangertherdemandrforrofficervisitsrtorarphysician,rexcept:r-
rCORRECTrrANSWER-Archangerinrtherpricerofranrofficervisit.




Anrinferiorrgood:r-rCORRECTrrANSWER-
Causesrtherdemandrcurvertorshiftrtortherleftrwhenrincomerrises.

Assumingrprovidersrwillraccommodaterpatientrdesires,rwhatreffectrwouldrarbindingrpricerceil
ingrhaveronrtherhealthrcarermarket?r-rCORRECTrrANSWER-
Pricerwillrdecreasertoradherertortherpricerceilingr&rquantityrwillrincrease.

Assumingrthatrarmarketrisrperfectlyrcompetitiver&rinrarstaterofrequilibrium,rwhichrofrtherfollow
ingrstatementsrisralwaysrtruerwhenrtherpricerchanges?r-rCORRECTrrANSWER-
Socialrwelfarerdecreases.

Assumingrthatrprovidersrwillronlyraccommodaterpatientrdesiresruprtorarpoint,rwhatreffectrwo
uldrarbindingrpricerceilingrhaveronrtherhealthrcarermarket?r-rCORRECTrrANSWER-
Quantityrofrhealthrcarersuppliedrwouldrfall.

EvenrinrtherU.S.,rapproximately,rwhatrpercentrofrmedicalrcarerisrpurchasedrthroughrinsuran
ce,rgovernmentrprogramsrorrotherrthirdrpartyrinsurers?r-rCORRECTrrANSWER-90
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