HE360 Healthcare Economics Quiz 2 Answers (Ashworth College) - 2020

 HE360 Healthcare Economics Quiz 2 Answers (Ashworth College) - 2020

 

 

 

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1. If the price elasticity of demand for visits is –0.2, then a 10% increase in price leads to a __________ in quantity demanded.

2. The fundamental rule for insurance coverage is:

3. At a 6% interest rate, ignoring depreciation, over a three year period a $100,000 investment must earn at least __________ to be economically viable.

4. In the accompanying diagram (above), George:

5. If Ellen can earn $20/hour and each visit takes 1.5 hours of her time, then the time costs of a visit are:

6. Fractional coinsurance __________ the price elasticity of demand by __________ the out-of-pocket cost.

7. Economists are finding social capital to be an important determinant of health. Which of the following forms of capital would NOT be considered a form of social capital?

8. Suppose that a state or local government increases the tax on cigarettes. Comparing the quantity demand after the tax is imposed with the quantity demanded before the tax was imposed describes a __________ experiment.

9. Mortality refers to __________ whereas morbidity refers to __________.

10. Refer to panel B in the figure above. We see a(n) __________ of __________ percent in the cost per unit output moving from Q to Q'.

11. A BMI equal to 32 indicates that the individual is:

12. Education may be an important determinant of health care demand because:

13. Suppose that cost per day of treatment rises by 4% in a given year. If the quality of treatment per day rises by 5%, then cost per quality adjusted day has:

14. If the coinsurance rate increases from 0.10 to 0.15, this raises the effective money price by __________ percent.

15. The BMI helps to measure obesity. All else equal, an increase in the person's height __________ the BMI because __________.

16. At __________ interest rates, the opportunity cost of capital __________.

17. Calculate the expected return in a game where Sam wins $1 with the probability of , $5 with the probability of , and $0 with the probability of .

18. Consider the following hypothetical table of benefits and costs for health production for the people in the society.

19. For an entire economy the optimal coinsurance rate balances the marginal gain from increased protection against risk against the marginal loss from increased moral hazard. Manning and Marquis find this optimal rate to be approximately __________ percent.

20. If a $100 billion increase in funding for health care increases average life years by 0.76 life years: