perfect competition:
estion 1
1 out of 1 points
Correct
Under the assumptions of perfect competition:
Answer
Selected Answer:
Price acts as a rationing mechanism and one market equilibrium price and quantity combination is reached.
Correct Answer:
Price acts as a rationing mechanism and one market equilibrium price and quantity combination is reached.
Question 2
1 out of 1 points
Correct
The variation in salary and total compensation for hospital administrators is much greater than that of hospital emergency room physicians. The president of a large teaching hospital may earn multiples of the salary of the president of a smaller community hospital. Physicians employed by hospital emergency rooms will have a much smaller variation in salary. One reason for this is:
Answer
Selected Answer:
Variability in skill levels between the best and worst in the field.
Correct Answer:
Variability in skill levels between the best and worst in the field.
Question 3
1 out of 1 points
Correct
If a physician receives a bonus for referring a patient for cardiac surgery to a specialty hospital nearby his office:
Answer
Selected Answer:
The physician has violated the Stark law.
Correct Answer:
The physician has violated the Stark law.
Question 4
0 out of 1 points
Incorrect
In the short run, the supply curve for physicians is essentially downward sloping due to the licensure requirements. True or false?
Answer
Selected Answer: True
Correct Answer: False
Question 5
1 out of 1 points
Correct
When assessing the market demand and supply of physicians, economists look at all of the following, except:
Answer
Selected Answer:
Academic publication records of practicing physicians.
Correct Answer:
Academic publication records of practicing physicians.
Question 6
1 out of 1 points
Correct
An HMO may monitor the diagnoses and treatments of participating physicians to determine how closely physicians follow observed norms of care or designated clinical pathways. This is a means for measuring:
Answer
Selected Answer:
Quality
Correct Answer:
Quality
Question 7
0 out of 1 points
Incorrect
Economies of scale means that a group physician practice is likely to return more income to physicians than would an individual practice. True or false?
Answer
Selected Answer: False
Correct Answer: True
Question 8
0 out of 1 points
Incorrect
The federal government, through its control over the American Medical Association, held the physician supply constant for most of the 20th century. True or false?
Answer
Selected Answer: True
Correct Answer: False
Question 9
0 out of 1 points
Incorrect
Charging higher premiums to women of child-bearing age than to men of the same age is an example of price discrimination. True or false?
Answer
Selected Answer: True
Correct Answer: False
Question 10
1 out of 1 points
Correct
One would expect that price elasticity will be greater for __________ than for ___________.
Answer
Selected Answer:
medical school entrance examination preparation course tuition; medical school tuition
Correct Answer:
medical school entrance examination preparation course tuition; medical school tuition
Monday, September 29, 2014 1:49:14 PM EDT