HMGT 3320 TEST 3 TRUE OR FALSE EXAM QUESTIONS WITH VERIFIED SOLUTIONS LATEST
UPDATE 2026
1. A public good or service is one that is judged to have value that an individual or society
should have based on some concept of need. - Answers FALSE
1. A stop-loss feature sets a lower limit on the amount the consumer will have to pay during a
specified period of time (e.g., annually or a lifetime). - Answers FALSE
1. An individual will increase work time hours from zero as long as the value of lost leisure is
greater than the wage rate. - Answers FALSE
1. Demand-side regulation of hospitals include certificate-of-need requirements for entry of
new hospitals. - Answers FALSE
1. Horizontal collaborative arrangements have been undertaken to integrate better control over
the coordination of care across providers and institutions. - Answers FALSE
1. Part B of original Medicare covers inpatient hospital services, limited skilled nursing facility
services, home health care, and hospice services. - Answers FALSE
1. The demand curve for labor will shift upward and to the left if labor becomes more
productive. - Answers FALSE
1. The FDA regulates prescription medications, generic drugs, but not over-the-counter drugs. -
Answers FALSE
1. The inpatient hospital stays under Medicare are paid a prospectively set rate according to the
resource-based relative value scale. - Answers FALSE
1. If there is a vertical supply curve, then a mandated benefit will result in a full employment
effect. - Answers FALSE
1. In the state of information symmetry, one group of individuals potentially engaged in a
transaction has better information than another group potentially engaged in the transaction. -
Answers FALSE
1. Indirect regulation refers to interventions in markets by regulatory agencies to control price,
quantity, or quality with straightforward actions. - Answers FALSE
1. Medicaid is a state public health insurance program. - Answers FALSE
UPDATE 2026
1. A public good or service is one that is judged to have value that an individual or society
should have based on some concept of need. - Answers FALSE
1. A stop-loss feature sets a lower limit on the amount the consumer will have to pay during a
specified period of time (e.g., annually or a lifetime). - Answers FALSE
1. An individual will increase work time hours from zero as long as the value of lost leisure is
greater than the wage rate. - Answers FALSE
1. Demand-side regulation of hospitals include certificate-of-need requirements for entry of
new hospitals. - Answers FALSE
1. Horizontal collaborative arrangements have been undertaken to integrate better control over
the coordination of care across providers and institutions. - Answers FALSE
1. Part B of original Medicare covers inpatient hospital services, limited skilled nursing facility
services, home health care, and hospice services. - Answers FALSE
1. The demand curve for labor will shift upward and to the left if labor becomes more
productive. - Answers FALSE
1. The FDA regulates prescription medications, generic drugs, but not over-the-counter drugs. -
Answers FALSE
1. The inpatient hospital stays under Medicare are paid a prospectively set rate according to the
resource-based relative value scale. - Answers FALSE
1. If there is a vertical supply curve, then a mandated benefit will result in a full employment
effect. - Answers FALSE
1. In the state of information symmetry, one group of individuals potentially engaged in a
transaction has better information than another group potentially engaged in the transaction. -
Answers FALSE
1. Indirect regulation refers to interventions in markets by regulatory agencies to control price,
quantity, or quality with straightforward actions. - Answers FALSE
1. Medicaid is a state public health insurance program. - Answers FALSE
