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MHA 710 Exam 1 - Questions And Answers
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MHA 710 Exam 1 - Questions And Answers
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MHA 710 Exam 1 - Questions And AnswersIn the nation of Pavlova, a significant proportion of the population suffers
from breathing difficulties later in life. Pavlova Medical produces the only
prescription drug that is effective in treating the condition. Which of the
following terms best describes the situation in the market? ✔️Ans -
Monopoly
An observational study provides a biased estimate of the true effect of a
treatment on a medical outcome because: ✔️Ans - It is difficult to find a
control group that is equivalent to the treatment group
Suppose the demand curve for medical care services is perfectly inelastic.
What will happen to the equilibrium price and quantity if supply increases?
✔️Ans - Price will fall and quantity will stay the same
All of the following will cause a shift in the medical care supply curve, except:
✔️Ans - a change in the percentage of the population with health insurance
If a hospital is experiencing economies of sale ✔️Ans - its average cost
curve is negatively sloped as output increases
Which of the following statements is based on positive analysis ✔️Ans -
high health care prices are one of the primary reasons that the US spends
more on medical care than other countries
Assume an initial equilibrium at D1 and S1 with a price of $1.20 million per
machine. If the government places a $100,000 excise tax on each new scanner
sold, the new equilibrium price will be: ✔️Ans - less than 1.30 mill
how different is medical care from other commodities? All of the following are
from Arrow's thesis except ✔️Ans - preponderance of non profit providers
which of the following might cause a market to produce less than the optimal
quantity ✔️Ans - market control by a monopolist
an inferior good ✔️Ans - causes the demand curve to shift less when
income rises
, assuming that inputs are perfect compliments, how will the production
isoquants be graphically depicted ✔️Ans - l-shaped curves
Randomized sampling is not feasible in many policy studies, so researchers
turn to different strategies to estimate causality from observational data. One
such approach is difference-in-differences (DiD). Which of the following
statements best describes DiD? ✔️Ans - DiD is a hybrid approach that
utilizes a cross section of individuals across time to measure differences
Suppose angioplasty (with stents) and coronary artery bypass graft (CABG)
surgery are substitute treatment alternatives for coronary artery disease.
What should happen to the equilibrium price and quantity of angioplasty
procedures performed if a new CABG technique is introduced that is less
invasive (requiring a 4-inch incision under the breast bone rather than
cracking open the patient's rib cage) and requires one-third the recovery
period of regular CABG surgery? ✔️Ans - both price and quantity will
decrease
supply curves are positively sloped because of ✔️Ans - the increasing
opportunity cost of resources
suppose the market for hospital outpatient treatment is in equilibrium when a
price ceiling is set below equilibrium price. What do you expect to happen?
✔️Ans - a shortage will develop
The optimal level of output may be defined as that level of output where
✔️Ans - the marginal benefit of the last unit purchased equals its marginal
cost
if a hospital dumps its biohazardous waste into the ocean and it pollutes the
neighboring state, this is an example of ✔️Ans - a negative externality
a physicians office expenses increase by 10%, so the dr decides to raise the
price of office visits. Assuming the demand curve for office visits does not
shift, what will happen to the total number of office visits and practice
revenues ✔️Ans - office visits will fall and total revenues will rise if
demand is inelastic
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