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EC248 Exam 2 |Questions Solved 100% Correc
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EC248 Exam 2 |Questions Solved 100% CorrectWhat statement best describes a health system?
Aspects of society that have an important bearing on the health care at the population level.
Aspects of society that have an important bearing on the health care of individuals and
the population.
Aspects of society that have an important bearing on health at the population level.
Aspects of society that have an important bearing on the health of individuals and the
population. - ✔Aspects of society that have an important bearing on the health of
individuals and the population.
Which statement best describes governance of the Canadian Health Care System?
Provinces/Territories have jurisdiction adhering to the guidelines of the Canada Health Act
,The Federal Government controls provincial/territorial actions with the Canada Health Act
Federal/Provincial/Territorial governments share jurisdiction over the Health Care System.
The Canada Health Act provides the governance structure for the Health Care System. -
✔Provinces/Territories have jurisdiction adhering to the guidelines of the Canada Health Act
How does Canada compare to other OECD countries regarding the proportion of health care
expenditures covered by public financing.
the highest
relatively high
about the same
relatively low - ✔relatively low
Which statement best describes technical efficiency?
Enables producers to identify the most up to date production technology.
Maximizes outputs for given inputs conditional on a production technology.
Can only be identified when costs of alternative inputs are known.
,Always leads to cost efficiency and allocative efficiency. - ✔Maximizes outputs for given
inputs conditional on a production technology.
Providing free prescription medications for all patients who need them demonstrates
horizontal equity
vertical equity
procedural equity
distributional efficiency - ✔horizontal equity
The creation of an organ transplant lists is an example of:
distributional equity
vertical equity
horizontal equity
procedural equity - ✔procedural equity
Which statement is NOT true?
Marginal analysis and average analysis lead to the similar outcomes.
, Marginal analysis asks 'what happens if I do something a little more?
Marginal analysis is used to identify the optimal level of a good or activity.
Total benefit is maximized where marginal cost equals marginal benefit. - ✔Marginal analysis
and average analysis lead to the similar outcomes.
A representation of society's preferences and attitudes towards the amount and distribution
of welfare in a society is called
A utility function
A social welfare function
The Grand Utility Frontier
The Edgeworth Box - ✔A social welfare function
Which statement about opportunity cost is NOT true:
Opportunity cost is the financial value of the forgone opportunity
Opportunity costs are important because resources are limited.
Opportunity cost is a fundamental economic concept.
Opportunity cost emphasizes the true social cost of a policy. - ✔Opportunity cost is the
financial value of the forgone opportunity
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