HE360 Exam 4

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School

Arizona Western College *

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Course

360

Subject

Economics

Date

Apr 26, 2024

Type

docx

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Uploaded by eabcontaoe1983 on coursehero.com

[04] Module 4 Exam - Results Attempt 1 of 2 Written Apr 23, 2024 6:59 AM - Apr 23, 2024 7:44 AM Attempt Score 78 / 100 - 77.5 % Overall Grade (Highest Attempt) 78 / 100 - 77.5 % Question 1 2.5 / 2.5 points Generally, as socioeconomic benefits _______ for a given population, health levels _______. Question options: decrease; increase increase; decrease decrease; decrease increase; remain unchanged Question 2 2.5 / 2.5 points As price _______, the amount of the good or service offered for sale _______. Question options: decreases; remains the same increases; increases decreases; increases increases; decreases

Question 3 2.5 / 2.5 points The elasticity of supply _______ as the time period _______ in the production decision- making time frame. Question options: remains the same; increases is greater; decreases is greater; increases remains the same; decreases Question 4 0 / 2.5 points Why is employer-based insurance attractive to insurance companies? Question options: They attract lower-than-average risk subscribers. They know they have a tremendous source of consumers ready to buy their product. They're more effective in removing moral hazards. They avoid adverse selection. Question 5 2.5 / 2.5 points The short-run production function for healthcare services can be mathematically generalized as Question options: STC(q) = wn + rk ̅

(a − bQ)Q = aQ − bQ2 U = U(H,O) q = f(n, k) Question 6 0 / 2.5 points Which of the following primarily influences the price of healthcare, which is a movement along a given demand curve for healthcare? Question options: Gross domestic product Insurance Wage effect Human capital Question 7 2.5 / 2.5 points The _______ allows for the possibility that each level of output may be produced by several different combinations of the personnel and capital inputs. Question options: law of diminishing productivity production function supply function benefit cost Question 8 2.5 / 2.5 points

_______ refers to how all of a person's attributes can be used to perform labor- related tasks. Question options: Marginal efficiency capital Diminishing marginal utility Standard assumption Human capital Question 9 0 / 2.5 points Which of the following groups want to maintain or increase health in ways that don't require medical visits? Question options: High-income earners The elderly The poor Highly educated Question 10 0 / 2.5 points If a health outcome has variation within a population, then there is a/an Question options: health disparity. adverse selection.

moral hazard. principal-agent problem. Question 11 2.5 / 2.5 points What does the quantity of goods that may be purchased from a budget depend on? Question options: The quality of the goods The consumers' needs for the goods The tax breaks concerning the goods The prices of the goods Question 12 0 / 2.5 points Obesity is at epidemic proportions in the United States and is strongly associated with socioeconomic status, at least Question options: blacks Hispanics whites Asians Question 13 2.5 / 2.5 points What's the cause of a firm with a high capital-to-labor ratio not having the ability to easily switch production capacity?

Question options: The fixed nature of capital The human capital approach Income elasticity of demand Factors of production Question 14 2.5 / 2.5 points Which of the following defines health as a durable good? Question options: Investment model of health Consumption model Marginal efficiency capital A stock of health Question 15 2.5 / 2.5 points Disparity between a high cost of healthcare per person and a population's poor health exists because of extreme inequality between which groups? Question options: The poor and very wealthy The elderly and the young Men and women

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