Retrospective reimbursement provides financial incentives formedical care.O a. efficient, inefficientOb. excessive; efficientOc. insufficient; efficientO d. excessive; insufficientmedical care; prospective reimbursement provides financial incentives forQUESTION 23According to the notion that flat-of-the-curve medicine is practiced in the United States, which of these BEST describes the marginal healthbenefit from the next dollar of medical spending?a. It decreases as more is spent on health care.Ob. It increases as more is spent on health care.Oc. It first increases and then decreases as more is spent on health care.Od. It first decreases and then increases as more is spent on health care.QUESTION 24Suppose that Hope, now retired, worked for 10 years in a retail shop, earning $18,000 per year, and for 27 years in an office, earning $25,000per year. In today's dollars, Hope's retail job paid $25,000 per year, and her office job paid $45,000 per year. What is Hope's Average IndexedMonthly Earnings?a. $32,643Ob. $37,829O c. $40,429O d. $44,316QUESTION 25Elise's health insurance policy has a deductible of $500, a $20 copayment on doctor visits, and coinsurance of 10% on all expenses other thanthose for which there are copayments. She visited the doctor four times last year (doctor's fee is $40 per visit) and underwent a surgery thatcost $3,000. If instead she had had a policy with a $1,000 deductible, a $10 copayment on doctor visits, and no coinsurance, which of these isTRUE regarding her expenses (excluding the cost of the insurance)?O a. With the higher deductible, she would have saved between $70 and $249 relative to what she paid with her actual policy.have aved more than $250 relative to what she paid with her actual policy.O b. With the higher deductible, sheO c. With the higher deductible, she would have spent at least $300 more than she paid with her actual policy.d. With the higher deductible, sh would have spent between $50 and $250 more than she paid with her actual policy.QUESTION 26If Sonam's average preretirement earnings were $30,000 per year, his highest preretirement earnings were $90,000per year, and he receives $20,000 per year in retirement benefits, what is his replacement rate?O a. 16.67%O b. 22.22%O c. 33.33%O d. 66.67%

Medical care is a term used in economics to describe the products and services created and used to…

Retrospective reimbursement provides financial incentives for medical care. a. efficient; inefficient O b. excessive; efficient c. insufficient; efficient O d. excessive; insufficient medical care; prospective reimbursement provides financial incentives for

Retrospective reimbursement provides financial incentives for medical care. a. efficient; inefficient O b. excessive; efficient c. insufficient; efficient O d. excessive; insufficient medical care; prospective reimbursement provides financial incentives for

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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