self test 2.docx - UHV HCAD 4354 Dr Chen Economics for...

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UHV HCAD 4354 Dr. Chen Economics for Healthcare CH 2-3 1. The goods and services that maintain, improve, or restore a person's physical or mental wellbeing is a description of: a. medical care b. hospital c. social service d. health 2. ________ means that a medical service is incapable of being assessed by the five senses a. Inventory b. Utility c. Inseparability d. Intangibility 3. Which of the following is included in the health production function? a. Technology b. Profile c. Environment d. All the answers are correct 4. Which of the following curves is upward sloping? a. Marginal utility curve b. Marginal product curve c. Total product curve d. All the answers are correct 5. The marginal product of medical care diminishes as the individual acquires more medical care. A graphic depiction of this relationship of the marginal product curve for medical care appears as a(n) ________ sloped curve. a. negatively b. positively c. inversely d. None of the answers are correct 6. The determinants of health among children include a. access to health care b. environmental factors c. socioeconomic status d. All the answers are correct UHV HCAD 4354 Dr. Chen 7. Which of the following was the leading cause of death in the United States in 2010? a. AIDS b. Stroke c. Heart disease d. Flu 8. Which of the following statements about the TSB and TSC curves is TRUE? a. Total net social benefit is maximized when the vertical distance between the TSB and TSC curves is greatest. b. The TSC curve bows downward to capture the fact that society experiences diminishing marginal benefit with regard to
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medical care. c. The TSB curve bows toward the vertical axis because the marginal cost of producing medical care increases as more medical care is produced. d. None of the answers are correct. 9. Which of the following benefits of a medical intervention is the most subjective and the most difficult to quantify? a. The monetary value of the loss in satisfaction or utility averted due to a continuation of life or better health or both. b. The monetary value of the loss in production diverted because death is postponed. c. The medical costs diverted because an illness is prevented. d. The monetary value of the potential loss in production saved because good health is restored. 10. The human capital approach is limited because it: a. equates the value of a life to market value of output produced by the individual b. is unable to control for labor market imperfections c. is the most common method to determine monetary worth of a life d. All the answers are correct 11. If spending $50 per person per year reduces the probability of dying by 1 in 1,000, what is the imputed value of life using the willingness-to-pay approach? a. $15,915 b. $159,155 c. $50,000 d. $5,000 UHV HCAD 4354 Dr. Chen 12. When a new treatment is more effective than an old treatment and at the same time more costly, what analysis must be used to determine if the new treatment should be adopted?
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