HCA 432 STUDY EXAM QUESTIONS CORRECTLY ANSWERED.
To reduce the ache in your knees when you work out, you buy an elastic knee brace from the pharmacy section at the grocery store. This transaction differs from paying a surgeon to replace your knee joint because? - CORRECT ANSWER the knee brace is...
HCA 432 STUDY EXAM QUESTIONS
CORRECTLY ANSWERED.
To reduce the ache in your knees when you work out, you buy an elastic knee brace from the pharmacy
section at the grocery store. This transaction differs from paying a surgeon to replace your knee joint
because? - CORRECT ANSWER the knee brace is basically the same product regardless of where you buy
it or who you buy it for, even though there may be different manufacturer brand names. However, each
knee replacement surgery is different, and its specifics vary according to the individual patient's needs
and the individual physicians' assessment and skills.
Which of the following statements is false? Significant increase in healthcare spending over the past
seventy years can in part be explained by the? - CORRECT ANSWER increase in the share of the
healthcare costs spent on manufactured goods such as drugs.
Consider the following scenario. A local pharmacy puts a popular brand of over-the-counter allergy
medication, a 30-tablet pack, on sale at 30% off for a week. The quantity of that medication sold during
that week (the number of 30-tablet packs), was 27% higher than the week before. The value of the price
elasticity of demand for that allergy medication in this particular market is ___________ and demand
can be considered _____________. - CORRECT ANSWER 9/10; elastic
If my dentist decides to lower the price of teeth whitening treatments, total sales (revenues) for
treatments will go up if: - CORRECT ANSWER price elasticity is greater than one
A problem with Cost-Benefit Analysis is that - CORRECT ANSWER sometimes subtle distinctions in the
alternatives considered as opportunity costs may overstate the benefits of a treatment.
Many useful medical technologies become wasteful when they are expanded to include low-risk
individuals.
True or False - CORRECT ANSWER True
The Law of Large Numbers explains why it is unlikely that the actuarially fair premium for an insurance
policy will be the same for a small start up firm as it will be for a large employer such as a university.
True or False - CORRECT ANSWER True
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