CERTIFICATION SCRIPT 2026
QUESTIONS WITH SOLUTIONS
GRADED A+
◍ Compared to the not-for-profit organizational form, the for-profit
environment.
Answer: allows for the transfer of assets
◍ Economics is best defined as the study of how to run a business most
profitably. True or False..
Answer: False
◍ Exhaust from a factory that increases health risks for people living near the
factory is an example of an externality. True or False..
Answer: True
◍ The amount that Medicare pays a hospital for treating a Medicare patient is
determined.
Answer: at the point when the diagnosis is made.
◍ In 2008 and 2009, the
U. S. economy 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..
Answer: True
◍ Suppose the market for nursing services in a local community is so
dominated by a single community hospital that, for all practical purposes, it
, is considered a monopsony. Using the diagram below, answer the question.
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
◍ A society faces many decisions, but a household does not. True or False..
Answer: False
◍ What is the most significant cost of attending medical school?.
Answer: The income foregone
◍ Public policies aimed at increasing the size of the economic pie also lead to
a higher degree of equality. True or False..
Answer: False
◍ You can stay home and study to do 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.
Answer: A. Scarcity and tradeoffs
◍ Starting salaries for female obstetricians/gynecologists are higher than those
of male obstetricians/gynecologists . What is the best explanation for this?.
Answer: The demand for female obstetricians/gynecologists is greater than
the demand for male obstetricians/gynecologists .
◍ In order to be a successful price discriminator, a provider must have a
degree of market power (depicted by a downward-sloping demand curve)
and meet what other condition(s)?.
Answer: Markets must be segmentable, identifying differences in ability to
pay
◍ Which of the following statements is true concerning the trend in
community hospital care between inpatient and outpatient services since the
, mid-1980s?.
Answer: Outpatient services have been growing, while inpatient services
have been declining
◍ Your opportunity cost of going to a Maroon 5 concert during your Spring
Break is:
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.
Answer: 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 unemployment compensation if they lose
their jobs through no fault of their own. If Jim, a factory worker, will 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.
Answer: D. The unemployment compensation most likely lowers Jim's
incentive to save while he is working. Unemployment compensation most
likely decreases Jim's efforts to find a new job.