LSUS MHA 710 EXAM HEALTHCARE ECONOMICS COMPLETE COURSE NEWEST ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS
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LSUS MHA 710
LSUS MHA 710 EXAM HEALTHCARE
ECONOMICS COMPLETE COURSE
NEWEST ACTUAL EXAM
QUESTIONS AND CORRECT DETAILED
ANSWERS
Government regulators sometimes set the price of a drug at its marginal cost of production without
including a fair share of the global joint cost of research and development. Whi...
LSUS MHA 710 EXAM HEALTHCARE
ECONOMICS COMPLETE COURSE
NEWEST 2024-2025 ACTUAL EXAM
QUESTIONS AND CORRECT DETAILED
ANSWERS
Government regulators sometimes set the price of a drug at its marginal cost of production without
including a fair share of the global joint cost of research and development. Which of the following
statements is true about this practice? - answer✔This practice is a classic example of free riding.
What was the main effect of the agreement on Trade-Related Aspects of Intellectual Property Rights
(TRIPS) on United States' domestic policy? - answer✔It extended the life of patents from 17 years from
the date of grant to 20 years from the date of application.
The majority of pharmaceutical advertising is directed at which of the following groups? -
answer✔Physicians
Part B pays what percentage of the allowable fee set by Medicare? - answer✔80%
By the time a drug enters the clinical trial phase of testing on humans, - answer✔an average of five
years of the overall patent life has already expired
Which of the following is a true statement about long-term care? - answer✔?
Finkelstein and McKnight (2008) provide an empirical estimate of the benefits to seniors of the 1965
introduction of Medicare. Which of the following statements is true concerning the results of this study?
- answer✔The real impact of the introduction of Medicare was on the reduction in out-of-pocket health
care spending for households faced with catastrophic events (those in the top 25 percent of spenders).
Which of the following services is covered under Part B of Medicare? - answer✔Emergency room
services
Medicare and Medicaid were enacted by the Johnson administration in 1965 as amendments to which
federal law already in existence? - answer✔Social Security Act
Medical care spending escalates as an individual reaches old age. Which of the following statements is
true regarding medical care spending and the elderly? - answer✔Chronic illnesses increase as we age as
do the multiplicity of services available to treat those illnesses.
How much did pharmaceutical companies spend on direct-to-consumer advertising in 2019? -
answer✔$6.1 billion
Danzon and Furukawa (2003) argue that: - answer✔pharmaceutical price differences across countries
are roughly in line with differences in per capita gross domestic product, supporting the predictions of
Ramsey pricing practices.
How do individuals enroll in Part A of Medicare? - answer✔Individuals are automatically enrolled on
their 65th birthday as long as they or their spouse has paid into the Social Security system for 10 years
The tax fully dedicated to provide support for Medicare Part A is - answer✔a 2.9 percent payroll tax paid
by all workers, regardless of their age.
Price controls are a common feature in the pharmaceutical industry in most developed countries. Which
one of the following statements about price controls is true? - answer✔Countries with the most
stringent price controls do the least research.
The only disease-specific group eligible for Medicare are those suffering from: - answer✔end-stage renal
disease.
The Medicare pay-as-you-go system is jeopardized by - answer✔The changing demographics of the
United States' population, with an increasing percentage over the age of 65.
Which benefits are provided through Part A of Medicare? - answer✔Medical hospital insurance
On average, biopharmaceutical companies spend approximately what percentage of their sales revenue
on research and development? - answer✔15-20%
A type I error is: - answer✔when a harmful drug is allowed into the market.
Economies of scale exist when: - answer✔long-run average costs decline as output increases.
Suppose the market for nursing services in a local community is so dominated by a single community
hospital that, for all practical purposes, it is considered a monopsony. Using the diagram below, answer
the question.
If the market were perfectly competitive instead of dominated by a monopsonist, what would the
equilibrium wage and level of employment be? - answer✔W1 and E1
Changes caused by the shift from charge-based rates to negotiated rates has had which of the following
results? - answer✔Most hospitals experience a gap between the amount they receive from their payers
and the amount billed, with receipts as low as 20 percent of amount billed.
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