Health Economics Theory Insights And Industry Studies 6th Edition By Dr. Rexford E. - Test Bank

Health Economics Theory Insights And Industry Studies 6th Edition By Dr. Rexford E. – Test Bank

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Sample Questions Are Posted Below

1. When will the marginal utility per dollar spent on medical care equal the marginal utility per dollar spent on entertainment for a consumer?

2. Consumer demand for medical care is considered a _______ demand, as it depends on the consumer’s demand for good health.

3. The _______ refers to the impact a lower price for medical care has on the real purchasing power of consumers.

4. Time costs of acquiring medical care are considered _______.

5. Insurance _______ the price for medical care, thereby _______ the demand for it.

6. A _______ represents a fixed amount paid by the consumer that is independent of the market price or actual costs of medical care.

7. Which of the following might occur after acquiring health insurance due to moral hazard?

8. The _______ refers to how much more or less of a product consumers buy when its price changes.

9. The _______ refers to how many more or fewer people buy a product when its price changes.

10. A positive cross-price elasticity estimate between in-patient and out-patient services at a hospital would imply that the two are _______.

11. As consumers purchase more medical care, the marginal utility per dollar spent on medical care increases.

12. Since the demand for medical care is derived from the demand for good health, an increase in income will decrease the demand for medical care.

13. Larger deductible requirements decrease the risk of moral hazard.

14. Demand for most medical services in the U.S. has been found to be inelastic.

15. A negative income elasticity of demand for out-patient services would imply that it is an inferior good.

Answers:

1. c 11. b
2. b 12. b
3. a 13. a
4. c 14. a
5. d 15. a
6. e
7. a
8. a
9. b
10. d