Health Economics Theory Insights And Industry Studies 6th Edition By Dr. Rexford E. – Test Bank

Health Economics Theory Insights And Industry Studies 6th Edition By Dr. Rexford E. – Test Bank

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Edition: 6th Edition

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Resource Type: Test bank

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Health Economics Theory Insights And Industry Studies 6th Edition By Dr. Rexford E. – Test Bank

  1. Which of the following best describes allocative efficiency?
a. Producing a medical service at the lowest possible cost.
b. Constructing a new medical facility to exactly offset a market shortage of such services.
c. Increasing the amount of hospital beds available such that each person in the population served has a bed allocated to him/her.
d. None of the above.
e. More than one of the above statements is true.

 

  1. Which of the following best describes productive efficiency?
a. Producing a medical service at the lowest possible cost.
b. Constructing a new medical facility to exactly offset a market shortage of such services.
c. Increasing the amount of hospital beds available such that each person in the population served has a bed allocated to him/her.
d. None of the above.
e. More than one of the above statements is true.

 

  1. Which of the following represents an opportunity cost?
a. Increases in medical technology.
b. Reduction in fees for Medicare patients.
c. Additional spending on public health initiatives.
d. Increased enrollments at medical schools.
e. Forgone geriatric care to provide additional maternity services.

 

  1. Any point _______ the production possibilities frontier is efficient and attainable.
a. inside of
b. along
c. outside of
d. both a and b are correct
e. both a and c are correct

 

  1. _______ help explain the law of increasing opportunity costs.
a. Differing consumer preferences
b. The characteristics of a pure market system
c. Advancements in technology
d. Imperfect substitutability of resources
e. Decreases in the availability of natural resources
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