Health Economics exam 2023 with complete solutions
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Course
Health Economics b
Institution
Health Economics B
In the US, health expenditures are growing as a percentage of GDP.
a. True
b. False correct answersTrue
Major features of economic analysis include which of the following?
a. Irrational decision making
b. Use of models
c. Rational decision making
d. Marginal analysis
e. Scarcity of reso...
Health Economics
In the US, health expenditures are growing as a percentage of GDP . a. True b. False correct answersTrue
Major features of economic analysis include which of the following?
a. Irrational decision making
b. Use of models
c. Rational decision making
d. Marginal analysis
e. Scarcity of resources correct answersb. Use of models
c. Rational decision making
d. Marginal analysis
e. Scarcity of resources
A formal definition of health economics is the study of the allocation of what? correct answersResources to and within the health economy
The RAND Health Insurance Experiment demonstrated that prices do not impact the demand for medical
care. a. True b. False correct answersb. False
Variables that can shift demand for a good include which of the following?
a. Tastes
b. Insurance
c. Income d. Technological change
e. Prices of related goods correct answersa. Tastes
b. Insurance
c. Income e. Prices of related goods
Variables that shift the supply of a good include which of the following?
a. Income
b. Size of the industry
c. Prices of production-related goods
d. Input prices
e. Technological change correct answersb. Size of the industry
c. Prices of production-related goods
d. Input prices
e. Technological change
Utility is a measure of a consumer's level of what with various combinations of goods? correct answersa. Satisfaction
Marginal utility is defined as the average utility achieved by consuming goods. a. True
b. False correct answersb. False
The price elasticity of demand is defined as the _________ change in quantity demanded divided by the __________ change in the ___________. correct answerspercent
percent
price
Having a price elasticity that is infinitely large implies that the demand curve is correct answersperfectly flat
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