Ph-154 exam 3 Questions with Correct Answers Graded A+

Ph-154 exam 3 Questions with Correct
Answers Graded A+

What is meant by the term "health care costs"?

a. The price of health care

b. How much a nation spends on health care

c. Cost of producing health care

d. All of the above - Correct answer-All of the above

What does the Consumer Price Index (CPI) measure?

a. Medical inflation

b. General inflation

c. Health care expenditures

d. Overall government expenditures - Correct answer-General inflation

What is Gross Domestic Product (GDP)?

a. A measure of all the goods and services produced by a nation in a given year


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, b. A measure of all the goods and services produced by a nation in a given year,

divided by the population

c. A measure of all the goods and services produced by a nation in a given year,

minus the amount of money spent by the government

d. A measure of all the goods and services produced by a nation in a given year,

divided by the amount of money spent by the government - Correct answer-A

measure of all the goods and services produced by a nation in a given year

Approximately what percentage of GDP is spent on health care in 2009?

a. 7%

b. 17%

c. 27%

d. 37% - Correct answer-17%

Expenditures (E) equal:

a. Price (P) minus Quantity (Q)

b. Price (P) plus Quantity (Q)

c. Price (P) divided by Quantity (Q)

d. Price (P) times Quantity (Q) - Correct answer-Price (P) times Quantity (Q)

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