MHA 710 - Healthcare Economics - Exam 1 (Part 1
- Ch. 1 & 2) Exam | Questions with 100% Correct
Answers | Verified | Latest Update 2026
Save
Terms in this set (82)
Economics is best defined as the False
study of how to run a business most
profitably. True or False.
Exhaust from a factory that increases True
health risks for people living near the
factory is an example of an
externality. True or False.
In 2008 and 2009, the U.S. economy True
experienced a deep economic
downturn. If there is a short-run
trade-off between inflation and
unemployment, to combat the high
unemployment, President Obama
should have pursued an inflationary
policy such as a stimulus package of
reduced taxes and increased
government spending. True or False.
A society faces many decisions, but a False
household does not. True or False.
,Public policies aimed at increasing False
the size of the economic pie also
lead to a higher degree of equality.
True or False.
You can stay home and study to do A. Scarcity and tradeoffs
well on your exam or you can go to
the movies with your friends, but not
both. This example illustrates:
A. Scarcity and tradeoffs
B. Scarcity but not tradeoffs
C. Tradeoffs but not scarcity
D. Neither tradeoffs nor scarcity
Your opportunity cost of going to a D. The price of the concert ticket, plus the cost of
Maroon 5 concert during your any beverages you buy at the concert, and the
Spring Break is: value of your time
A. Zero, because Maroon 5 is your
favorite
B. The price of the concert ticket
C. The price of the concert ticket
plus the cost of any beverages you
buy at the concert
D. The price of the concert ticket,
plus the cost of any beverages you
buy at the concert, and the value of
your time
, Certain employees are eligible for D. The unemployment compensation most likely
unemployment compensation if they lowers Jim's incentive to save while he is working.
lose their jobs through no fault of Unemployment compensation most likely
their own. If Jim, a factory worker, will decreases Jim's efforts to find a new job.
receive compensation of half his
regular pay for 52 weeks while he
looks for a job, then:
A. The unemployment compensation
most likely raises Jim's incentive to
save while he is working.
Unemployment compensation most
likely increases Jim's efforts to find a
new job.
B. The unemployment compensation
most likely raises Jim's incentive to
save while he is working.
Unemployment compensation most
likely decreases Jim's efforts to find a
new job.
C. The unemployment compensation
most likely lowers Jim's incentive to
save while he is working.
Unemployment compensation most
likely increases Jim's efforts to find a
new job.
D. The unemployment compensation
most likely lowers Jim's incentive to
save while he is working.
Unemployment compensation most
likely decreases Jim's efforts
- Ch. 1 & 2) Exam | Questions with 100% Correct
Answers | Verified | Latest Update 2026
Save
Terms in this set (82)
Economics is best defined as the False
study of how to run a business most
profitably. True or False.
Exhaust from a factory that increases True
health risks for people living near the
factory is an example of an
externality. True or False.
In 2008 and 2009, the U.S. economy True
experienced a deep economic
downturn. If there is a short-run
trade-off between inflation and
unemployment, to combat the high
unemployment, President Obama
should have pursued an inflationary
policy such as a stimulus package of
reduced taxes and increased
government spending. True or False.
A society faces many decisions, but a False
household does not. True or False.
,Public policies aimed at increasing False
the size of the economic pie also
lead to a higher degree of equality.
True or False.
You can stay home and study to do A. Scarcity and tradeoffs
well on your exam or you can go to
the movies with your friends, but not
both. This example illustrates:
A. Scarcity and tradeoffs
B. Scarcity but not tradeoffs
C. Tradeoffs but not scarcity
D. Neither tradeoffs nor scarcity
Your opportunity cost of going to a D. The price of the concert ticket, plus the cost of
Maroon 5 concert during your any beverages you buy at the concert, and the
Spring Break is: value of your time
A. Zero, because Maroon 5 is your
favorite
B. The price of the concert ticket
C. The price of the concert ticket
plus the cost of any beverages you
buy at the concert
D. The price of the concert ticket,
plus the cost of any beverages you
buy at the concert, and the value of
your time
, Certain employees are eligible for D. The unemployment compensation most likely
unemployment compensation if they lowers Jim's incentive to save while he is working.
lose their jobs through no fault of Unemployment compensation most likely
their own. If Jim, a factory worker, will decreases Jim's efforts to find a new job.
receive compensation of half his
regular pay for 52 weeks while he
looks for a job, then:
A. The unemployment compensation
most likely raises Jim's incentive to
save while he is working.
Unemployment compensation most
likely increases Jim's efforts to find a
new job.
B. The unemployment compensation
most likely raises Jim's incentive to
save while he is working.
Unemployment compensation most
likely decreases Jim's efforts to find a
new job.
C. The unemployment compensation
most likely lowers Jim's incentive to
save while he is working.
Unemployment compensation most
likely increases Jim's efforts to find a
new job.
D. The unemployment compensation
most likely lowers Jim's incentive to
save while he is working.
Unemployment compensation most
likely decreases Jim's efforts
