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Economics EC248 – Quiz 4 – Practice Questions

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This document contains the material for Quiz 4 of EC248 Economics. It covers key topics from the relevant portion of the course, including supply and demand analysis, market equilibrium, elasticity, consumer and producer behavior, and pricing strategies. The content is structured to support focused review and effective preparation for Quiz 4

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Economics EC248 – Quiz 4 – Practice Questions

An economic evaluation may be done from any of the following viewpoints EXCEPT

society

patient

evaluator

health system - correct answer ✔✔ evaluator

The human-capital approach may be used in

Cost-Benefit Analysis

Cost-Effectiveness Analysis

Cost-Utility Analysis

All types of evaluation - correct answer ✔✔ Cost-Benefit Analysis

_________ is NOT a possible outcome of an economic evaluation

Incremental Cost-Effectiveness Ratio

Incremental Cost-Utility Ratio

Net Monetary Benefit

Least Cost Alternative - correct answer ✔✔ Least Cost Alternative

Which economic evaluation method can indicate whether a program is worthwhile?

Cost-Benefit Analysis

Cost-Effectiveness Analysis

Cost-Utility Analysis

All types of evaluation - correct answer ✔✔ Cost-Benefit Analysis

The similarity between Cost-Benefit Analysis, Cost-Effectiveness Analysis and Cost-Utility
Analysis is

how the consequences are valued

how the consequences are measured

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