QUESTION 7 1 pointsSave Answer Which of the following statements is true? O a.In
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QUESTION 7 1 pointsSave Answer Which of the following statements is true? O a.In a single-payer system, physicians are allowed to have private practices. b.ln a single-payer system, the market has one firm that sets the rates that are paid to medical providers c. In a single-payer system, the government sets the rates that are paid to medical providers. d.U.S. patients seeking medical care in the United States are more likely to seek additional care in Canada than Canadian patients are to seek care in United States. QUESTION 8 1 pointsSave Answer Which of the following medical services has relatively elastic demand? O a. teeth whitening at the dentist Ob.an MRI following a pos O c. a routine physical exam after the age of 40 sible concussion d.treating an infant with a bad cough and high fever QUESTION 9 1 pointsSave Answer Which of the following is an example of moral hazard? O a. You hire a neighborhood teenager to mow your grass once a week over the summer while you are traveling. The teenager mows your grass every three weeks instead. O b.You decide to buy a scalped ticket before a concert, but you are not entirely sure the ticket is legitimate. c.A competitive market for organs would increase the amount of organ transplants. O d.A contractor takes a long time to finish the construction work he promised after you gave him his final payment.Explanation / Answer
Q7- answer is option (c) in a single payer system government sets the rates that are paid to medical providers beacuse under a single payer system it is financed through the mode of taxes that government collects and is a system of medical practice in which government sets the rules regarding the pays of medical practitioners.
Q8- answer is option (a) teeth whitening at a dentist will opertae as a elastic demand since when the demand for some thing is elastic it means with increase in price its demand will fall and with decrease innprice its demand will rise and is of not a nature of necessities and here above rest all can be neccesity and also sometimes case of emergency so their demand will not get affected with price because when people have to get them done they will only option a remains out of the ambit .
Q9- option (c) is a moral hazard of doing business of organs for organs transplant since it is against the morals of the society to trade in human organs and also ill practices being done in the organs industry frauding with patients and taking out their kidneys without even knowing them .
Q10- answer is option (a) insurance companies arent fully aware of patients medical history is one of the attribute of adverse selection in insurance business field and adverse selection is a tedency where either the buyer or the seller donot have complete knowledge about each other or vice versa
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