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MHA 710 / MHA 710 Exam 1:- (New 2024/
2025) Questions and Verified Answers|
Grade A| 100% Correct
QUESTION
Randomized sampling is not feasible in many policy studies, so researcher's turn to different strategies to estimate causality from observational data. One such approach is difference in the difference (DiD). Which of the following statements best describes DiD? Answer: DiD is a hybrid approach that utilizes a cross-section of individuals across time to measure differences.
QUESTION
If two women receive the same hip replacement procedure at a hospital, but are charged differently, it is an example of: Answer: price discrimination
QUESTION
A physician's office expenses increase by 10%, so the doctor decides to raise the price of office visits. Assuming the demand curve for office visits does not shift, what will happen to the toal number of office visit and practice revenues. Answer: Office visits will fall and total revenue will rise is demand is inelastic
QUESTION
How different is medical care from other commodities? Arrow based his thesis on a number of characteristics that contribute to the unique nature of medical care. All of the following characteristics were listed by Arrow, except: Answer: Preponderance of not-for-profit providers
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An inferior good: Answer: causes the demand curve to shift to the left when income rises
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If a hospital is experiencing economies of scale: Answer: Its average cost curve is negatively sloped as output increase
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An inferior good Answer: has a negative income elasticity and is one where the demand curve shifts to the left when income goes up
QUESTION
Which of the following will not change the demand for office visit to the physician? Answer: A change in the price of an office visit.
Between surgeons and patients
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A patient has a medical condition, but he doesn't know what is is. The physician he sees diagnoses his illness correctly. What terms applies to this situation Answer: Asymmetric information
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The market for medical care relies primarily on Answer: Not for porfit providers
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Which of the following results from providers having more information about treatment alternatives tan their patients? Answer: Principle agent problem
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Nonexcludable and nonrival goods are known as Answer: Public Good
QUESTION
The optimal level of output may be defined as that level of output where
Answer: the marginal benefit of the last unit purchased equals its marginal cost
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Opportunity cost is a measure of Answer: foregone opportunities and value based on the alternative not chosen
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The oppurtunity cost of investing in a new lithotripter is Answer: Defined by the next best use of the money invested in the equipment
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A health insurance arrangement where individuals have access to health care in exchange for a set premium is called: Answer: Third-party payment system
QUESTION
According to Adam Smith's terminology, the "invisible hand" refers to: Answer: · market forces working through the price mechanism.
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
QUESTION
All of the following will cause a shift in the medical care supply curve, expect: Answer: a change in the percentage of the population with health insurance
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Supply curves are postively sloped because of: Answer: the increasing opportunity cost of resources
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Which of the following might cause a market to produce less than the optimal quantity? Answer: Market control by a monopolist
QUESTION
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 to develop
QUESTION
The following graph depicts the market for CT scanners in the US. Assume an initial equilibrium at D1 and S1 with a price of 1.2 million per machine. If the government places a 100,000 excise tax on each new scanner sold, the new equilibrium price would be: Answer: less than 1.3 million
QUESTION
Inoculation programs agonist certain diseases such as smallpox, polio, and whooping cough create: Answer: positive externalities in consumption
QUESTION
If a hospital dumps it's biohazard waste into the ocean and it pollutes the neighboring state, this is an example of: Answer: A negative externality
QUESTION
Which of the following statements is based on positive analysis? Answer: High healthcare prices are one of the primary reasons that the US spends more on medical care than other countries.
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QUESTION
By 2020, what was the forecasted % amount of health care spending paid by individuals Answer:
QUESTION
According to recent public opinion polls, what percentage of Americans are satisfied with the quality of the medical care they receive? Answer: 70%
QUESTION
According to economic theory what is the optimal percentage of GDP to be spent on medical care? Answer: There is no widely accepted way to determine the optimal percentage.
QUESTION
Which of the following statements is based on positive analysis? Answer: Individuals without health insurance have less access to physicians' services than those who have health insurance AND The high cost of health insurance places U.S. firms at a competitive disadvantage with their foreign competitors.
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Economists use the term marginal to describe costs and benefits Answer: that are incremental and thus relevant to decision making
QUESTION
Self-insurance refers to the practice of setting aside funds to pay for medical care expenses instead of paying premiums to an insurance company. Approximately, how many of all employees who participate in group insurance plans work for firms that self-insure? Answer: two-thirds
QUESTION
In spite of its early popularity, the Patient Protection and Affordable Care Act of 2010 (ACA) had not improved by 2020. What percentage of Americans considered its complete repeal a good thing? Answer: 40
QUESTION
Charging higher prices for one category of patients in order to provide free or subsidized care to another group is called: Answer: cost shifting
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· Price transparency
QUESTION
Which of the following is NOT considered to be a factor in the recent slowing of health care spending? Answer: Growing U.S. gross domestic product (GDP)
QUESTION
Since 1950, U.S. health care spending has grown from an average of 4.5 percent of GDP to an estimated forecast of _____ percent of GDP in 2020. Answer: 18
QUESTION
Opportunity cost measures: Answer: Foregone opportunities
