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LSUS MHA 710 ECONOMICS EXAM 3 NEWEST
ACTUAL EXAM WITH COMPLETE QUESTIONS
AND CORRECT VERIFIED ANSWERS (DETAILED
ANSWERS) ALREADY GRADED A+ 100%
GUARANTEED TO PASS CONCEPTS!!!
Which of the following characteristics is true of the
pharmaceutical industry? - .....ANSWER ...✔✔
Exclusive rights to market & sell patented products.
The tax fully dedicated to provide support for Medicare
Part A is: - .....ANSWER ...✔✔ A 2.9 percent payroll
tax paid by all workers, regardless of their age.
Several reform options have been discussed by
Congress to solve some of the structural problems that
plague the program. Which of the following options has
received little support? - .....ANSWER ...✔✔ Limit the
coverage for end-of-life care, the most expensive single
item in Medicare, to include only essential palliative
care.
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Part B pays what percentage of the allowable fee set
by Medicare? - .....ANSWER ...✔✔ 80 percent.
Which of the following statements is true concerning the
trend in community hospital care between inpatient &
outpatient services since the mid-1980s? - .....ANSWER
...✔✔ Outpatient services have been growing, while
inpatient services have been declining.
On average, biopharmaceutical companies spend
approximately what percentage of their sales revenue
on research & development? - .....ANSWER ...✔✔ 5-
10 percent.
In 2019, Medicare covered approximately how many
Americans? - .....ANSWER ...✔✔ 60 milllion.
What was the main effect of the agreement on Trade-
Related Aspects of Intellectual Property Rights (TRIPS) on
United States' domestic policy? - .....ANSWER ...✔✔ It
extended the life of patents from 17 years from the
date of grant to 20 years from the date of application.
Suppose the market for nursing services in a local
community is so dominated by a single community
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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 & level of employment be? -
.....ANSWER ...✔✔ W1 & E1.
In order to be a successful price discriminator, a
provider must have a degree of market power
(depicted by a downward-sloping demand curve) &
meet what other condition(s)? - .....ANSWER ...✔✔
Markets must be segmentable, identifying differences in
ability to pay.
The merger of 2 community hospitals located in the same
geographic market is called: - .....ANSWER ...✔✔
Horizontal integration.
One of the primary reasons that costly technology is
being introduced into the health care system is: -
.....ANSWER ...✔✔ Third-party insurance finances
most of the cost of care.
LSUS MHA 710 ECONOMICS EXAM 3 NEWEST
ACTUAL EXAM WITH COMPLETE QUESTIONS
AND CORRECT VERIFIED ANSWERS (DETAILED
ANSWERS) ALREADY GRADED A+ 100%
GUARANTEED TO PASS CONCEPTS!!!
Which of the following characteristics is true of the
pharmaceutical industry? - .....ANSWER ...✔✔
Exclusive rights to market & sell patented products.
The tax fully dedicated to provide support for Medicare
Part A is: - .....ANSWER ...✔✔ A 2.9 percent payroll
tax paid by all workers, regardless of their age.
Several reform options have been discussed by
Congress to solve some of the structural problems that
plague the program. Which of the following options has
received little support? - .....ANSWER ...✔✔ Limit the
coverage for end-of-life care, the most expensive single
item in Medicare, to include only essential palliative
care.
,2|Page
Part B pays what percentage of the allowable fee set
by Medicare? - .....ANSWER ...✔✔ 80 percent.
Which of the following statements is true concerning the
trend in community hospital care between inpatient &
outpatient services since the mid-1980s? - .....ANSWER
...✔✔ Outpatient services have been growing, while
inpatient services have been declining.
On average, biopharmaceutical companies spend
approximately what percentage of their sales revenue
on research & development? - .....ANSWER ...✔✔ 5-
10 percent.
In 2019, Medicare covered approximately how many
Americans? - .....ANSWER ...✔✔ 60 milllion.
What was the main effect of the agreement on Trade-
Related Aspects of Intellectual Property Rights (TRIPS) on
United States' domestic policy? - .....ANSWER ...✔✔ It
extended the life of patents from 17 years from the
date of grant to 20 years from the date of application.
Suppose the market for nursing services in a local
community is so dominated by a single community
, 3|Page
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 & level of employment be? -
.....ANSWER ...✔✔ W1 & E1.
In order to be a successful price discriminator, a
provider must have a degree of market power
(depicted by a downward-sloping demand curve) &
meet what other condition(s)? - .....ANSWER ...✔✔
Markets must be segmentable, identifying differences in
ability to pay.
The merger of 2 community hospitals located in the same
geographic market is called: - .....ANSWER ...✔✔
Horizontal integration.
One of the primary reasons that costly technology is
being introduced into the health care system is: -
.....ANSWER ...✔✔ Third-party insurance finances
most of the cost of care.
