Question 18 (5 points)

What market failure does the regulation of nursing home quality address?

Question 18 options:

High long-term care costs

Existence of a public good

Asymmetric Information

All of the above

Question 19 (5 points)

Which if the following is NOT a likely result of limits on physician reimbursement rates under Medicare?

Question 19 options:

Reduction in quality of care provided

Access problems for Medicare beneficiaries

Increase in supply of physicians

Shortage of physicians

Question 20 (5 points)

Economics is the Study of _________________________

a)

The interaction of people in social situations

b)

The scarcity of resources or goods

c)

Human behavior under stressful situations

d)

Biological systems in the environment

Question 20 options: