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MHA 710 HEALTH CARE ECONOMICS EXAM 1 ACTUAL 2024 COMPLETE 400 QUESTIONS WITH 100% ACCURATELY DETAILED VERIFIED AND CORRECT ANSWERS ALREADY GRADED A+$20.49
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MHA 710 HEALTH CARE ECONOMICS
EXAM 1 ACTUAL 2024
COMPLETE 400 QUESTIONS
WITH 100% ACCURATELY
DETAILED VERIFIED AND
CORRECT ANSWERS ALREADY
GRADED A+
An inferior good - ....ANSWER...has negative income
elasticity and is one where the demand curve shifts to the
left when income goes up
Which of the following will not change the demand for
office visits to the physician - ....ANSWER...a change
in the price of an office visit
which of the following will not cause a shift in the
medical care supply curve - ....ANSWER...a change in
the % of the pop with health insurance
supply curves are positively sloped because of -
....ANSWER...law of diminishing returns
1
,A shortage of hospital beds will likely lead to -
....ANSWER...an increase in the price of a hospital stay.
Suppose angioplasty 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
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? -
....ANSWER...both price and quantity will decrease
suppose the market for hospital outpatient treatment is
in equilibrium when a price ceiling is set below the
equilibrium price. What do you expect to happen -
....ANSWER...a shortage will develop
A physicians office increases demand 10%, so they
decide 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 visits and practice
revenues - ....ANSWER...office visits will fall and total
revenue will rise if demand is inelastic
2
,if a hospital is experiencing economies of scale -
....ANSWER...its average cost curve is negatively sloped
as output increases.
when a physician knows more about an alternative
treatments than her patients, we say a XXX exists -
....ANSWER...asymmetric information
3
, Under which of the following circumstances is the
principal agent problem likely to be most serious -
....ANSWER...between surgeons and patients
A patient has a medical condition but he does not know
what i. is. The physician he sees diagnoses his illness
correctly. What term applies to this situation
- ....ANSWER...asymmetric information
The market for medical care relies primarily on: -
....ANSWER...Not for profit providers.
Which of the following results from providers having
more information about treatment alternatives than their
patients - ....ANSWER...Principal agent problem
A health insurance arrangement where individuals have
access to health care in exchange for a premium is called
- ....ANSWER...Third party payment system
Suppose you are a politician being criticized in a debate
for your committment to reducing the growth of medical
spending. Which of the following is the most appropriate
response - ....ANSWER...Reducing wasteful health care
spending could provide additional funding tot the
4
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