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LSUS MHA 710 Economics Exam 3 Questions and Answers
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LSUS MHA 710 Economics Exam 3 Questions and Answers
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LSUS MHA 710 Economics Exam 3Which of the following characteristics is true of the pharmaceutical industry? - Answer -Exclusive rights
to market & sell patented products.
The tax fully dedicated to provide support for Medicare Part A is: - Answer -A 2.9 percent payroll tax
paid by all workers, regardless of their age.
Several reform options have been discussed by Congress to solve some of the structural problems that
plague the program. Which of the following options has received little support? - Answer -Limit the
coverage for end-of-life care, the most expensive single item in Medicare, to include only essential
palliative care.
Part B pays what percentage of the allowable fee set by Medicare? - Answer -80 percent.
Which of the following statements is true concerning the trend in community hospital care between
inpatient & outpatient services since the mid-1980s? - Answer -Outpatient services have been growing,
while inpatient services have been declining.
On average, biopharmaceutical companies spend approximately what percentage of their sales revenue
on research & development? - Answer -5-10 percent.
In 2019, Medicare covered approximately how many Americans? - Answer -60 milllion.
, What was the main effect of the agreement on Trade-Related Aspects of Intellectual Property Rights
(TRIPS) on United States' domestic policy? - Answer -It extended the life of patents from 17 years from
the date of grant to 20 years from the date of application.
Suppose the market for nursing services in a local community is so dominated by a single community
hospital that, for all practical purposes, it is considered a monopsony. Using the diagram below, answer
the question.
If the market were perfectly competitive instead of dominated by a monopsonist, what would the
equilibrium wage & level of employment be? - Answer -W1 & E1.
In order to be a successful price discriminator, a provider must have a degree of market power (depicted
by a downward-sloping demand curve) & meet what other condition(s)? - Answer -Markets must be
segmentable, identifying differences in ability to pay.
The merger of 2 community hospitals located in the same geographic market is called: - Answer -
Horizontal integration.
One of the primary reasons that costly technology is being introduced into the health care system is: -
Answer -Third-party insurance finances most of the cost of care.
Physicians who own their own diagnostic testing facilities tend to order more tests, charge higher fees
for them, & have higher total bills to patients. This practice of self-referral is an example of: - Answer -
Physician-induced demand.
Approximately what percentage of Medicare enrollees received inpatient hospital care in 2018? -
Answer -15 percent.
Which of the following services is covered under Part B of Medicare? - Answer -Emergency room
services.
The rate of return on an investment in medical education: - Answer -Is inversely related to the length of
time spent in formal schooling.
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