LSUS MHA 710 EXAM 3 TEST BANK FULL
SOLUTION VERIFIED QUESTIONS AND
ANSWERS GUARANTEED TO PASS
●● If the market were perfectly competitive instead of dominated by a
monopsonist, what would the equilibrium wage and level of
employment be?
Answer: W1 and E1
●● What is the most significant cost of attending medical school?
Answer: The income foregone
●● Which of the following would increase the supply of physicians?
Answer: More scholarships and grants to cover medical school tuition
●● Which of the following statements about the distribution of
physicians among specialties is true in the United States?
Answer: There are twice as many specialists as there are generalists.
●● According to surveys by the Medical Group Management
Association, the average primary care physician earned approximately
_______ in 2010.
Answer: $200,00
,●● Surgical specialists earn more than general/family practice
physicians. Which of the following statements is not true regarding this
income differential?
Answer: Surgeons will always earn more than general practitioners
because they are smarter than general practitioners.
●● The rate of return on an investment in medical education
Answer: is inversely related to the number of years in the profession.
●● Physicians who own their own diagnostic testing facilities tend to
order more tests, charge higher fees for them, and have higher total bills
to patients. This practice of self-referral is an example of
Answer: a. physician-induced demand.
●● The observed variations in practice patterns in different regions of
the country are difficult to eliminate
Answer: a. because of the many alternative treatment options available
for most ailments.
b. due to the localized nature of most medical practice.
c. because it is difficult to change the preferences of physicians and
patients.
d. the observed variations are so minor that they are of little concern to
policy makers.
, e. a, b, and c are true.
●● To address the shortage of physicians on the horizon, it will be
necessary to
Answer: a. build more medical schools.
b. provide more grants and scholarships for medical education.
c. allow the admission of more foreign-educated physicians.
all of the above
●● In 2010, the medical specialty that earned the highest rate of return
on investment was
Answer: orthopedic surgery.
●● Suppose the number of medical school graduates continues to
increase over the next decade. Which of the following is true?
Answer: Physicians' salaries will rise if the demand for medical services
rises more than the supply of physicians rises.
●● Physicians' salaries increased substantially over the decade 1995-
2005 from an average of $215,000 to $315,000. What is the best
explanation for this?
Answer: The demand for physicians has increased.
SOLUTION VERIFIED QUESTIONS AND
ANSWERS GUARANTEED TO PASS
●● If the market were perfectly competitive instead of dominated by a
monopsonist, what would the equilibrium wage and level of
employment be?
Answer: W1 and E1
●● What is the most significant cost of attending medical school?
Answer: The income foregone
●● Which of the following would increase the supply of physicians?
Answer: More scholarships and grants to cover medical school tuition
●● Which of the following statements about the distribution of
physicians among specialties is true in the United States?
Answer: There are twice as many specialists as there are generalists.
●● According to surveys by the Medical Group Management
Association, the average primary care physician earned approximately
_______ in 2010.
Answer: $200,00
,●● Surgical specialists earn more than general/family practice
physicians. Which of the following statements is not true regarding this
income differential?
Answer: Surgeons will always earn more than general practitioners
because they are smarter than general practitioners.
●● The rate of return on an investment in medical education
Answer: is inversely related to the number of years in the profession.
●● Physicians who own their own diagnostic testing facilities tend to
order more tests, charge higher fees for them, and have higher total bills
to patients. This practice of self-referral is an example of
Answer: a. physician-induced demand.
●● The observed variations in practice patterns in different regions of
the country are difficult to eliminate
Answer: a. because of the many alternative treatment options available
for most ailments.
b. due to the localized nature of most medical practice.
c. because it is difficult to change the preferences of physicians and
patients.
d. the observed variations are so minor that they are of little concern to
policy makers.
, e. a, b, and c are true.
●● To address the shortage of physicians on the horizon, it will be
necessary to
Answer: a. build more medical schools.
b. provide more grants and scholarships for medical education.
c. allow the admission of more foreign-educated physicians.
all of the above
●● In 2010, the medical specialty that earned the highest rate of return
on investment was
Answer: orthopedic surgery.
●● Suppose the number of medical school graduates continues to
increase over the next decade. Which of the following is true?
Answer: Physicians' salaries will rise if the demand for medical services
rises more than the supply of physicians rises.
●● Physicians' salaries increased substantially over the decade 1995-
2005 from an average of $215,000 to $315,000. What is the best
explanation for this?
Answer: The demand for physicians has increased.
