BU.555.710 Applied & Behavioral Economics in HC EXAM READINESS GUIDE Questions & Answers

BU.555.710 Applied & Behavioral Economics in HC EXAM READINESS GUIDE Questions & Answers

1. Question: What is the primary economic rationale
behind health insurance?
 - A) To increase healthcare profits
 - B) To spread risk and reduce financial uncertainty
 - C) To ensure universal healthcare access
 - D) To decrease government healthcare spending
 Correct Answer: B) To spread risk and reduce financial
uncertainty
 Rationale: Health insurance pools risk among many
insured individuals, reducing financial uncertainty for any
one person. This helps individuals manage high and
unpredictable healthcare costs.
2. Question: In behavioral economics, which concept
explains why patients might prefer a treatment with
immediate benefits over one with long-term benefits?
 - A) Loss aversion
 - B) Hyperbolic discounting
 - C) Framing effect
 - D) Overconfidence bias
 Correct Answer: B) Hyperbolic discounting
 Rationale: Hyperbolic discounting refers to the
tendency to choose smaller, immediate rewards over larger,
later ones, reflecting impulsivity and short-term bias.
3. Question: What is the significance of "moral hazard" in
healthcare economics?
 - A) Patients bypassing necessary treatments

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