LSUS MHA 710 ECONOMICS EXAM 1 2024/2025
NEWEST!! ACTUAL COMPLETE REAL EXAM
QUESTIONS AND CORRECT ANSWERS
(VEERIFIED ANSWERS ) ALREADY GRADED A+.
Since 1950, US healthcare spending has grown from an average of
4.5 percent of GDP to an estimated forecast of
_____ percent of GDP in
2020. - ANSWER-18
According to Adam Smith's technology, the "invisible hand" refers to
- ANSWER-market forces working through the
price
mechanism.
Which of the following is NOT a potential result of ever-
increasing health care pricing? - ANSWER-Reduced
incentives for
innovation
Assuming providers will accommodate patient desires, what effect
would a binding price ceiling have on the health
care market? - ANSWER-Price will decrease to adhere to the
price ceiling and quantity will increase.
,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
Which of the following is NOT considered to be a factor in the recent
slowing of health care spending? - ANSWER-
Growing US gross
domestic product (GDP)
Suppose you are a consultant advising the US government on
reducing national health care spending. Assuming that providers will
accommodate patient desires, what advice could you offer
concerning the implementation of a price ceiling? - ANSWER-Total
spending may rise if providers intensify services and create new
technology for the uncontrolled sector
The cost to society resulting from taxation to finance government
spending is called - ANSWER-deadweight loss
A health insurance arrangement where individuals have access to
health care in exchange for a set premium is
,called - ANSWER-third-
party payment system
Suppose you are a politician being criticized in a debate for your
commitment to reducing the growth of medical spending. Which of
the following is the most appropriate respone? - ANSWER-Reducing
wasteful health care spending could provide additional funding to
the education sector.
Economists use the term marginal to describe costs and benefits -
ANSWER-that are incremental and thus relevant
to
decision-
making
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 percent
The 1974 federal legislation that exempted employers from certain
state laws governing health insurance was -
ANSWER-
ERISA
, Which of the following measurements of health care spending
adjusts for the population size? - ANSWER-per
capita
Since ACA was passed in 2010, there have been many efforts to have
the bill thrown out of at least watered down.
Most attempts have been unsuccessful. However, one key
elements of ACA was successful which was to -
ANSWER-eliminate the tax penalty
for the individual mandate
Which of the following does NOT contribute to wasteful spending in
medical care? - ANSWER-price transparency
Charging higher prices for one category of patients in order to
provide free or subsidized care to another group is
called - ANSWER-
cost shifting
Even in the US, approximately what percent of medical care is
purchased through insurance, government
programs, or other third-party
insurers? - ANSWER-90
Assuming that providers will only accommodate patient desires to a
point, what effect would a binding price ceiling
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