Question 1: Which of the following is a result of a price ceiling?

A. Excess supply

B. Long lines or wait times for customers due to shortages

C. The cost of shifting resources away from this competitive strategy

D. Producers sell products at higher prices

Question 2: Which of the following is not a characteristic of a market surplus?

A. The product's market price is higher than the equilibrium price.

B. Producers reduce the product's price to bring the market to the competitive equilibrium.

C. The quantity demanded for the productexceeds the quantity supplied.

D. The quantity supplied exceeds the quantity demanded by consumers.

Question 3: At the price of $25, the quantity demanded on the market demand curvethat sums the demand of Andy, Bret and Chrisis roughly:

A. 65 units

B. 140 units

C. 190 units

D. 100 units

Question 4:

Healthcareis an important segment of the U.S. economy because:

A. The greater the quantity of hip replacements, the fewer the automobiles supplied.

B. Nurses keep fighting for higher wages.

C. Health care costs are completely controlled by managed care.

D. National health expenditures are an increasing portion of the Gross Domestic Product (GDP).

Question 5: A capacity that does not changeif the volume of patients changes is known as:

A. Fixed capacity

B. Variable capacity

C. Intermittent capacity

D. Structural capacity

Question 6:

Inpatient acuity influences:

A. The number of physicians available.

B. The contractual adjustments for revenue.

C. The number of licensed beds on the unit.

D. The number of nursing hours (HPPD)required for direct patient care.

Question 7: The occupancy rate measures how closely the actual patient census...

A. Comes to the unit's full capacity

B. Comes the the number of nurses in a shift

C. Comes to earning a profit

D. Comes to established nursing hours per day (HPPD)

Question 8: One reason nurse staffing is important to measure is:

A. Nursing costs make up a large portion of a hospital's budget.

B. The more nurses on a unit, the fewer physicians are needed.

C. Staffing must be kept low regardless of patient acuity.

D. To guarantee all nurses are employed

Question 9: If three (3) RNsand two (2) CNAsare scheduled for an eight (8) hours shift, the skill mix is:

A. 60% RNs and 40% CNAs

B. Considered to be a safe staffing level

C. Considered to be a unsafe staffing level

D. A 1:5 nurse-patient ratio

Question 10: An important characteristic of asymmetric information in health care markets is:

A. Physicians always know more about a patient's conditionthan the patient.

B. Patients always know more about their condition than the physician.

C. One party has knowledge that the other party does not.

D. One party has to always pay the other party for information.

Question 11: Which of the following is not a characteristic of a market surplus?

A. The product's market price is higher than the equilibrium price.

B. Producers reduce the product's price to bring the market to the competitive equilibrium.

C. The quantity demanded for the productexceeds the quantity supplied.

D. The quantity supplied exceeds the quantity demanded by consumers.