HEALTHCARE ECONOMICS
MIDTERM REVIEW/ACTUAL EXAM
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,Terms in this set (79)
What proportion 0.18
of the GDP is
spent on
healthcare?
arc elasticity of price elasticity calculated over a
demand range of prices
False: Healthcare has an INELASTIC
demand. Any value between 0 and
True of False:
-1 has an inelastic demand. This
Healthcare has
proposes that while healthcare
an ELASTIC
demand does change to price, the
demand
change is not significant enough for
it to be considered elastic.
Price alone does NOT affect ones
does price for health. However, other factors may
care affect contribute to it affecting health such
health? as low-income, or having high blood
pressure).
, Health plays as a:
The Grossman
Model (3 Consumption Good
components) An input into Production
A form of Stock
Usefulness; capable of satisfying
Utility
wants and needs
H represents level of health
H and X
X represents home goods that
relationship
contribute to usefulness and
(Ut=U(Ht, Xt))
satisfaction (i.e video games, time
with friends)
differences in health -- incidence,
prevalence, mortality, and burden of
Health Disparity
disease -- between specific
populations
True or False: TRUE
Educated
individuals are
more likely to
live longer
compared to HS
dropouts
MIDTERM REVIEW/ACTUAL EXAM
QUESTIONS & ANSWERS RATED
100% CORRECT!!
Save
Practice questions for this set
Learn
Studied 7 terms
Nice work, you're crushing it
Continue studying in Learn
,Terms in this set (79)
What proportion 0.18
of the GDP is
spent on
healthcare?
arc elasticity of price elasticity calculated over a
demand range of prices
False: Healthcare has an INELASTIC
demand. Any value between 0 and
True of False:
-1 has an inelastic demand. This
Healthcare has
proposes that while healthcare
an ELASTIC
demand does change to price, the
demand
change is not significant enough for
it to be considered elastic.
Price alone does NOT affect ones
does price for health. However, other factors may
care affect contribute to it affecting health such
health? as low-income, or having high blood
pressure).
, Health plays as a:
The Grossman
Model (3 Consumption Good
components) An input into Production
A form of Stock
Usefulness; capable of satisfying
Utility
wants and needs
H represents level of health
H and X
X represents home goods that
relationship
contribute to usefulness and
(Ut=U(Ht, Xt))
satisfaction (i.e video games, time
with friends)
differences in health -- incidence,
prevalence, mortality, and burden of
Health Disparity
disease -- between specific
populations
True or False: TRUE
Educated
individuals are
more likely to
live longer
compared to HS
dropouts
