HE360 Healthcare Economics Quiz 4&5 Answers (Ashworth College) - 2020
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1. Use the graph above, suppose that a hospital is covering its marginal costs C1 at Medicare reimbursement rate R1. The number of Medicare patients will be:
2. Suppose that a family employs a nurse at a wage of $20 per hour for 20 hours per week to care for an invalid relative. They then choose to provide the care themselves to save the money. The economic results of this decision may:
3. In the figure above, initial supplier revenues equal:
4. The __________ hypothesis suggests that physicians induce demand to achieve a particular level of income.
5. Using the game theory "pay-off" matrix for profits above, the dominant strategy regarding adoption of a new technology is:
6. In the figure above, a change in physician wage from w3 to w1:
7. With declining occupancy rates, hospitals have faced financial pressure. Hospital mergers lead to offsetting impacts with __________ leading to potentially lower costs, but __________ leading to potentially higher prices.
8. Nursing home care is financed primarily by:
9. Home health care is less expensive than hospital or nursing home care because:
10. Education, feedback, and surveillance programs are concerned with:
11. Analyses in the past decade suggest that since the 1980s the medical arms race has:
12. The idea that physicians have different beliefs and knowledge about treatment outcomes, which in turn leads to variations in medical procedures, is called the:
13. The MAR analysis was based on the premise that:
14. Hospice care is intended for the terminally ill. Most patients receive care in __________ and the purpose is __________.
15. In the long run, hospitals will continue to remain open as long as:
16. The "medical arms race" literature suggests that hospitals might compete on the basis of:
17. As drawn in the figure above, increased competition:
18. Which of the following statements regarding the disutility of discretion model is FALSE?
19. The McGuire-Pauly synthesis examines the impacts of lowered profit rates. The __________ effect suggests that lowered profit would tend to reduce inducement, while the __________ effect suggests that lowered profit would increase inducement.
20. Despite the growth of the elderly population, only __________ of the elderly have long term care insurance.
21. In the figure above, the optimal amount of the public good is:
22. An economic rationale for imposing a "junk food" tax would be that:
23. Total Cost $90 million Cost if school provided only patient care 40 million Cost if school produced only education 60 million The "pure cost" of patient care is __________, the "pure cost" of education is __________, and the joint costs are __________.
24. Which of the following statements is FALSE?
25. According to utilitarians, society's welfare is maximized by:
26. The Theorem of the Second Best implies that:
27. Research and development (R&D) is considered a __________ because __________.
28. In the figure above, if the government provides level Q2 of the public good it:
29. Using the information above, the four-firm concentration ratio is:
30. Research suggests that generic drugs have had less market penetration and less success in containing costs because:
31. Definitions of equity that typically refer to allocations of health care are:
32. In the presence of external benefits, competitive markets will generally provide:
33. Analysts estimate total development time for new pharmaceutical products at about __________ years.
34. Suppose that increasing copayments for all drugs from $10 to $50 reduced total expenditures by 22%. This implies a demand elasticity for drugs of about:
35. Total benefits are maximized where:
36. Advertising is considered a __________ because __________.
37. Giving a poor person food at half of the market price __________ Pareto Optimal because __________.
38. Refer to the table above. If the wage rate is $90 per day, this firm will hire __________ workers.
39. Adams County has 100,000 residents. During any given year 2 percent of the population will develop a medical condition that requires 14 hours of physician treatment. Assuming the average physician works 2000 hours per year, how many physicians are needed in Adams County?
40. In a labor market, which of the following will occur if labor demand and supply simultaneously increase?
