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Which of the following is true about incentive based regulations:

(i) They set an environmental goal but are flexible on how to achieve the goal

(ii)They obtain more efficiency gains than is obtainable under CAC regulations

(iii)Effluent taxes are an example of incentive based regulations

(iv) All of the above statements are correct

(v) None of the above statements are correct

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Akhila Kumaran
Akhila KumaranLv4
24 Oct 2020

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Related questions

29.Which of the following payment initiatives are included in healthcare reform legislation (the Affordable Care Act)?

a. Value-based purchasing

b. New models of bundled payment

c. Patient age-based reimbursement

d. Initiatives a. and b. are both correct.

e. Initiatives a., b., and c. are all correct.

28.Which of the following statements about Medicares payment system for physicians services is most correct?

a. Each patient is assigned a Medicare Patient Identification Code (PIC) that reflects the severity of the patients diagnosis.

b. Patients are divided into five groups (A-E) based on diagnosis, with the E group reimbursement being the greatest.

c. Each service performed has a relative value unit (RVU) assigned that reflects the amount of physician work, practice expenses, and liability insurance costs.

d. Physicians are paid using Medicares Outpatient Observation Payment System (OOPS).

e. Physicians are paid using Medicares Ambulatory Patient Payment System (APPS).

27.Which of the following statements about Medicares inpatient prospective payment system (IPPS) is most correct?

a. Each discharge is assigned to a Medicare severity diagnosis-related group (MS-DRG) with a specified relative rate.

b. The relative weight is multiplied by a base dollar payment amount adjusted for local input prices to obtain the reimbursement amount. c. The relative weight is multiplied by a base dollar payment amount adjusted for the size of the hospital to obtain the reimbursement amount.

d. Statements a. and b. are both correct.

e. Statements a., b., and c. are all correct.

21.Which of the following statements about medical coding is incorrect?

a. ICD, CPT, and HCPCS provide a standard set of codes used to transform medical diagnoses and procedures into code numbers that can be universally recognized and interpreted.

b. ICD codes are published by the World Health Organization.

c. CPT codes were developed and are copyrighted by the American Medical Association.

d. HCPCS expands the CPT codes to include nonphysician services and durable medical equipment.

e. Because the coding process is technical and complex, there is little concordance between the information in the medical record and the classifications produced by medical coding.

19.Which of the following reimbursement methods creates the greatest incentive for providers to control the cost of delivering health services?

a. Cost-based reimbursement

b. Charge-based reimbursement

c. Discounted charge based reimbursement

d. Per diagnosis prospective payment

e. Capitation

23.Which of the following statements about capitation is most correct?

a. Capitation creates a delay between providing services and receiving payment.

b. The capitation payment amount to providers varies significantly from month to month and hence is difficult to predict.

c. Capitation encourages providers to focus on prevention and wellness.

d. Capitation places a greater administrative burden on providers than does fee-for-service payment.

e. Capitation uses a per diagnosis methodology to set hospital payment rates.

8.Which of the following tax-related benefits are generally granted to not-for- profit corporations?

a. Exemption from federal and state income taxes

b. Exemption from property taxes c. Ability to issue tax-exempt (municipal) debt

d. Ability to accept contributions that are tax deductible to the donor

e. Answers a., b., c., and d. are correct.

16. True or False: Under current law, the profits of not-for-profit corporations can be distributed to individuals.

14.Which of the following is NOT expected to result from healthcare reform initiatives?

a. Increased formation of accountable care organizations (ACOs)

b. Increased emphasis on population health

c. Decreased need for data analytics

d. Increased provider consolidation

e. Staffing shortages in selected areas

13. True or False: Because the organizational and financial goals of for-profit and not-for-profit provider organizations differ, their financial decision-making processes usually lead to very different decisions.

1. An economic system is

a. a set of institutional arrangements used to allocate scarce resources.

b. the movement of capital between countries.

c. how wealth is distributed and created in a country.

d. the natural resource available.

e. none of the above.

 

2. Contemporary economic change in Eastern Europe was preceded by

a. declining economic performance.

b. political change.

c. the withdrawal of Soviet backing.

d. all of the above.

 

3. Prior to the onset of economic reform in the late 1980s, the Soviet Union and most Eastern European countries allocated resources primarily by means of

a. Markets.

b. national economic plans.

c. neither a nor b.

d. both a and b.

 

4. Prices in the planned socialist systems were generally set by

a. supply and demand forces in the market.

b. the state.

c. external forces through international trade.

d. none of the above.

 

5. A major political change in the former planned socialist economies has been

a. the end of the political domination of Communist regimes.

b. the strengthening of the Communist regimes in combination with economic decentralization.

c. the full implementation of Western-style democracy.

d. all of the above.

 

6. The modern approach to defining economic systems

a. is based on the ”isms” of capitalism and socialism.

b. emphasizes resource allocation arrangements over incentive systems.

c. defines economic systems according to a number of characteristics.

d. states that defining economic systems is impossible.

e. none of the above.

 

7. The major attributes of an economic system are

a. its population and capital resources.

b. its level of GDP.

c. its level of GDP per capita.

d. its economic policies.

e. none of the above.

 

8. One very important characteristic of organizations in the comparing of economic systems is

a. the nature of economies of scale.

b. whether they exhibit capitalism or socialism.

c. the use of computers in the organization.

d. the level of centralization or decentralization of decisions.

e. none of the above.

 

9. A planned economy is one in which

a. subunits are coordinated by directives formulated by a superior agency.

b. subunits are not induced by appropriate incentives to carry out plan directives.

c. market allocation is combined with planned allocation.

d. a ministerial system prevails.

e. none of the above.

 

10. Ownership rights may affect economic outcomes because

a. public and private owners may have different time preferences.

b. public ownership may mean more attention to social rates of return.

c. the distribution of income is affected by ownership arrangements.

d. answers a and b are correct. e. answers a, b, and c are correct.

 

11. Which of the following would not be classified as an economic-environmental factor?

a. Natural resource endowments

b. The size of the economy

c. The nature of decision-making arrangements

d. The economy’s per capita income

e. The economy’s labor force

 

12. If one finds that the planned socialist economies all have higher growth rates than capitalist countries, this shows that

a. planned socialism necessarily produces higher growth than capitalism.

b. planned socialism may produce higher growth than capitalism, ceteris paribus.

c. capitalism may produce higher growth than planned socialism, ceteris paribus.

d. capitalism necessarily produces higher growth than planned socialism.

e. both b and c are correct.

 

13. National priorities tend to be

a. the same for countries that have similar economic systems.

b. the same for all countries.

c. different for different countries.

d. completely unknown.

e. none of the above.

 

14. Economic growth measures

a. the increase in nominal income.

b. the increase in the volume of output on either a total or a per capita basis.

c. the growth of efficiency.

d. the growth of productivity.

e. none of the above.

 

15. A measure of economic instability is

a. the unemployment rate.

b. the inflation rate.

c. the business cycle.

d. the Lorenz curve.

e. all except d are correct.

 

16. In the real world, most economic systems are in fact

a. centralized systems.

b. mixed systems.

c. market systems.

d. planned systems.

 

17. Although economic reform is difficult to characterize with precision, reform in planned socialist systems has typically been thought of as

a. revolutionary or abrupt in character.

b. occurring gradually over time.

c. successful in most cases.

d. none of the above.

 

18. In the United States, social security transfers as a percentage of the gross national product have

a. increased.

b. decreased.

c. remained the same.

d. fluctuated but with a significant downward trend.

 

19. In the industrialized capitalist systems, taxes as a percentage of the gross national product have

a. increased.

b. decreased slightly.

c. decreased greatly.

d. remained the same.

 

20. In contemporary capitalist economic reforms, privatization means

a. expansion of private ownership of the means of production.

b. improvement of planning methods.

c. implementation of worker management.

d. none of the above.

1. Which of the following actions reflect self-interested behavior?
(i) Warren Buffett, one of the world's wealthiest individuals, donated more than $30 billion to humanitarian causes such as AIDS and tuberculosis initiatives.
(ii) Pfizer Inc., a private pharmaceutical company, sponsored a disease-management program for Florida's Medicaid patients with chronic illnesses such as asthma, diabetes and heart disease.
(iii) You agree to babysit your 8-year-old brother instead of going to a kick-boxing class.
(iv) You agree to babysit your 8-year-old brother instead of going to a kick-boxing class only if your mother pays you $8 an hour.
A. (iv) only
B. (ii) and (iii) only
C. All of the above actions except (iii)
D. All of the above actions

2. Unlimited wants and limited resources:
A. Can be overcome through innovation
B. Can be overcome by increasing wealth
C. Are not problems faced by wealthy industrialized nations
D. Necessitate choices about the goods to services to consume

3. The production possibilities frontier can be used to demonstrate which of the following?
(i) The best tradeoffs that individuals and societies should make
(ii) The tradeoffs forced on individuals and societies because of scarcity
(iii) The wealth maximizing output combination that an individual or society should choose
A. (i), (ii) and (ii)
B. (i) only
C. (ii) only
D. (iii) only

Figure 1-1 shows the production possibility frontier for the hypothetical country, Lindenderry, which produces only two goods: corn and automobiles. Assume that Lindenderry uses all its productive resources to their maximum capacity.

Figure 1-1

4. If Lindenderry is using its productive resources to their maximum capacity, it must be producing a combination of goods given by a point such as:
A. Point U, V or W
B. Point U, X or W
C. Point V, U or T
D. Point X

5. If Lindenderry is at point U, producing 1300 tons of corn and 34 million automobiles, what is the opportunity cost of an additional 11 million automobiles?
A. 1,100 tons of corn
B. 2,200 tons of corn
C. 200 tons of corn
D. 18.2 tons of corn

6. Suppose Lindenderry is at point S, producing 700 tons of corn and 56 million automobiles. What happens if it sacrifices 11 million automobiles?
A. It moves to point T and gains 400 tons of corn
B. It moves to point T and gains 1,110 tons of corn
C. It moves to point W and gains 700 tons of corn
D. It moves to point W and loses 11 million automobiles

7. Suppose the price of a banana is $0.50, the price of a can of soda is $1.00 and the price of a power bar is $1.50. What is the opportunity cost of a banana?
A. $0.50
B. 1/2 of a power bar
C. 1/3 of a can of soda
D. 1/2 can of soda or 1/3 of a power bar

8. Which of the following statements is false?
A. Mother Teresa faced trade-offs when deciding to help lepers in India rather than some other needy group
B. When the government funds research into cancer, it is able to avoid trade-offs because public funds are used rather than private funds
C. When you volunteer to help at a soup kitchen, you face an opportunity cost of your time
D. Economics brings tradeoffs to light but does not inform us of which trade-offs society should make

9. Which the following would be likely to raise your opportunity cost of going to college full-time?
(i) You have been offered a full-time job as wardrobe assistant to Paris Hilton that pays $60,000 per year.
(ii) You have been offered a merit scholarship that pays for two years of tuition.
(iii) Your landlord increases the rent on the apartment you are currently living in and will continue to live in even if you choose to attend college full-time.
(iv) An increase in the value of your college trust fund set up by your grandfather.
A. All of the above
B. All of the above except (ii)
C. (i) only
D. (i) and (iii) only

Suppose Galesburg produces only two goods: textiles and wheat. Table 1-1 shows the combinations of the two goods that Galesburg can produce if it uses all its productive resources to their maximum capacity.

Table 1-1

10. If Galesburg is currently producing at point H, what is the opportunity cost of obtaining an additional 100 bushels of wheat?
A. 360 bales of textiles
B. 240 bales of textiles
C. 60 bales of textiles
D. 20 bales of textiles

11. Suppose Galesburg is currently producing at point K and would like to move to point J. This movement:
A. Enables it to obtain an additional 20 bales of textiles and an additional 60 bushels of wheat
B. Requires a sacrifice of 60 bushels of wheat to obtain an additional 20 bales of textiles
C. Enables Galesburg to increase textile production with no reduction in wheat production
D. Suggests that point K is an inefficient choice for Galesburg

12. Suppose Galesburg is currently producing 60 bales of textiles and 200 bushels of wheat. Which of the following statements is true?
A. It is not possible to produce more wheat without sacrificing any textiles
B. It is possible to produce more wheat without sacrificing any textiles
C. The people of Galesburg do not value wheat as highly as they value textiles
D. The price of wheat must have fallen, so producers have reduced their supply of wheat

13. Suppose the people of Galesburg want to consume 50 bales of textiles and 310 bushels of wheat. Are they able to achieve this?
A. Yes, if they are willing to pay higher prices for these products to induce suppliers to produce them
B. No, at this time Galesburg has insufficient resources to satisfy its consumers' wants
C. Yes, if they rearrange their resource use so as to increase total output
D. No, Galesburg must increase its money supply in order to do so

14. The opportunity cost of an item is:
A. The price you paid to acquire that item
B. What you could have bought if you did not purchase that item
C. What it costs to make that item
D. Higher than what you paid to obtain that item

15. The opportunity cost of an item is:
A. The value of all the alternatives that must be given up in order to engage in any economic activity
B. The average value of all the alternatives that you forego in order to engage in any economic activity
C. The highest-valued alternative that must be given up in order to engage in any economic activity
D. The lowest-valued alternative that must be given up in order to engage in any economic activity

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