HCA255 Week 5 Quiz Latest 2018

Question
1. Which of the following factors that affect supply do NOT shift the supply graph to the right?
Technological changes
Size of the industry
Weather
Input prices
2. There is a negative relation between income and the demand for health care: the richer the country, the greater the demand for health care.
True
False
3. _______ costs are easily identified because a recent market transaction is available to provide an accurate measure of costs
Implicit
Direct
Explicit
Indirect
4. In general, goods and services which are close substitutes have higher price elasticities
True
False
5. ________ is the sole provider of a good or service in a well defined market with no close substitutions.
Perfect competition
Oligopoly
Monopoly
Oligopolistic competition
6. _______ examines how changes in market conditions influence the positions of the demand and supply curve and cause the equilibrium price and quantity to change.
Marginal private benefit
Marginal private cost
Comparative statics•
7. If the percentage increase in the quantity consumed is greater than the associated percentage increase in income the good is called___
Superior good
Inferior good
Normal good
8. A good for which income elasticity is positive but less than one. The good is called a(n) ___
Superior good
Normal good
Inferior good
9. The ___ effect would encourage the substitution of other consumer goods for investment in health as one ages.
substitution
addition
subtraction
10. Which is not a state health incentive?
The Oregon Health Plan
Hawaii’s Universal Coverage
Minnesota Care
California Universal Health Coverage

 
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