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Health Economics and Policy Study Set 1

Business

Quiz 2 :

Using Economics to Study Health Care Issues

Quiz 2 :

Using Economics to Study Health Care Issues

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Supply curves are positively-sloped because of
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B

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Within the framework of economics, optimization means providing a good or service until
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D

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An inferior good
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E

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Which of the following will not cause a shift in the medical care supply curve?
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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?
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Suppose the demand curve for medical care services is perfectly inelastic. What will happen to the equilibrium price and quantity if supply increases?
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Which of the following will not change the demand for office visits to the physician?
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Suppose robotic technology improves the results of abdominal surgery-less time to perform the surgery, faster recovery times, and fewer mistakes. What is the impact on the market for abdominal surgery using this new technology?
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The price of services at Urban General falls by 10 percent.
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Suppose the U.S. Drug Enforcement Agency steps up its efforts to control the illegal importation of cocaine into the United States. What is the likely effect on the market for illegal drugs in the United States?
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The following graph depicts the market for CT scanners in the United States. img Assume an initial equilibrium at D1 and S1 with price of $200,000 per machine. If the government places a $20,000 excise tax on each new scanner sold, the new equilibrium price will be
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The price of services at St. Elsewhere falls by 10 percent. What happens to the quantity of services demanded at Urban General?
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Area income increases by 20 percent.
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A shortage of hospital beds will likely lead to
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Suppose angioplasty and coronary artery bypass graft CABG) surgery are substitute treatment alternatives for coronary artery disease. What should happen to the equilibrium price and quantity of angioplasty procedures if a new CABG technique is introduced that is less invasive requiring a 4 inch incision under the breast bone rather than cracking open the patient's rib cage) and requires one-third the recovery period of regular CABG surgery.
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What is the cumulative effect of a simultaneous increase in area income of 5 percent and a 10 percent increase in prices at Urban General?
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A physician's office expenses increases 10 percent, so she decides to raise the price of office visits. Assuming the demand curve for office visits does not shift, what will happen to the total number of office visits and practice revenues?
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The dead-weight loss from an excise tax
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