Ec248 exam - Study guides, Class notes & Summaries
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EC248 MIDTERM EXAM QUESTIONS & ANSWERS SOLVED 100% CORRECT!!
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EC248 MIDTERM EXAM QUESTIONS & ANSWERS SOLVED 100% CORRECT!!
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EC248 Final Exam Questions With Complete Solutions.
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EC248 Final Exam Questions With Complete Solutions.
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EC248 MIDTERM EXAM QUESTIONS & ANSWERS SOLVED 100% CORRECT!!
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EC248 MIDTERM EXAM QUESTIONS & ANSWERS SOLVED 100% CORRECT!!
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EC248 Midterm MC, Exam Review Questions and answers, rated A+| LATEST EXAM UPDATES| 2024/25 |
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EC248 Midterm MC, Exam Review 
Questions and answers, rated A+ 
*Question 1:*The principles of the Canada Health Act include all EXCEPT 
- Universality 
- Portability 
- Equity 
- Public Administration 
Equity 
*Question 2:*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 
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EC248 Final Exam With Verified Solutions
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EC248 Final Exam With Verified 
Solutions. 
- answerChapter 7 
- risk because there is a fear of the unknown 
- forfeiting income in good times to get money in bad times - answerDemand for Insurance 
U'(1)>0, utility increases with income 
U''(1)<0, marginal utility for income is declining - answerRisk Aversion 
- probability of sickness= P (between 0 and 1) 
- probability healthy= 1-p 
- Is= income if sick 
- IH>Is= income if healthy 
E(I)= PIs + (1-P)U(IH) - answerUncertainty 
- P=...
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EC248 Final UPDATED Exam Questions and CORRECT Answers
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EC248 Final UPDATED Exam Questions 
and CORRECT Answers 
Health care 
a) is the most important determinant of health in OECD countries. 
b) is the most expensive determinant of health in OECD countries. 
c) spending continues to grow rapidly in most OECD countries. 
d) sector is one of the largest sectors in most OECD countries. - Correct ANSWER- sector is 
one of the largest sectors in most OECD countries.
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EC248 Final Exam Questions and answers, rated A+| LATEST EXAM UPDATES| 2024/25 |
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EC248 Final Exam Questions and 
answers, rated A+ 
Drug formularies: 
- help manufacturers determine which drugs are efficacious. 
-help salesmen determine what to sell 
-determine which drugs will be covered by third-party payers 
-Answers b. and c. are correct. 
-determine which drugs will be covered by third-party payers 
In North America it is typical for physicians to work in hospitals but not be employed by them. This is a 
form of: 
-vertical integration 
- horizontal integration 
-inco...
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EC248 Final Exam Review Questions and answers/ VERIFIED.| LATEST EXAM UPDATES| 2024/25 |
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EC248 Final Exam Review Questions 
and answers/ VERIFIED. 
The __________ health care depends on preferences, budget constraint, price, supply factors. 
demand for 
need for 
availability of 
utilization of 
utilization of 
Supplier-induced demand 
always decreases efficiency because the care is likely not needed or wanted. 
is often efficient and desirable as patients get care they may not have demanded. 
is always efficient because only the physician knows what is medically necessary. 
is oft...
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EC248 Final Exam Questions and answers, rated A+| LATEST EXAM UPDATES| 2024/25 |
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EC248 Final Exam Questions and 
answers, rated A+ 
The principles of the Canada Health Act include all EXCEPT 
Universality 
Portability 
Equity 
Public Administration - -Equity 
The following is not a measure of health outcome: 
Number of physicians per capita. 
Population incidence of malaria. 
Death rate for children under the age of 5. 
Estimated men's lifespan. - -Number of physicians per capita. 
In Canada, the supply of physicians has 
decreased substantially over time resulting in the...
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Ec248 Final Exam Questions With 100% Correct Answers.
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Ec248 Final Exam Questions With 100% 
Correct Answers. 
Utilization of health care is often the starting point for studies into the need and/or demand for 
health care because 
A.the concepts are interchangeable and utilization is easiest to measure. 
B.demand and utilization are equal and need is unobservable. 
C.demand and utilization are similar and utilization is easy to measure. 
D.utilization is observable and offers information on demand and need. - answerD.utilization 
is observable and ...
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