Quiz 5-6

Question 1

Why do we conduct economic analysis:
A) Because of scarce/limited resource, choice among alternatives must be made in many areas of human activity
B) To make better decisions, economic analysis provides important information on how to allocate scarce resource efficiently to decision makers
C) Neither are correct
D) Both are correct

Answer 1

D) Both are correct

Question 2

Which could be used as humanistic outcomes?
A) Quality of life, Functional status, and satisfaction surveys
B) Direct and indirect cost
C) Morbidity, mortality, physioloical and metabolic measures
D) A & B
E) All

Answer 2

A) Quality of life, Functional status, and Satisfaction surveys

Question 3

Which could be used as clinical outcomes/effectiveness?
A) Quality of life, Functional status, and satisfaction surveys
B) Direct and indirect cost
C) Morbidity, mortality, physioloical and metabolic measures
D) A & B
E) All

Answer 3

C) Morbidity, mortality, physioloical and metabolic measures

Question 4

Theoretically, \_\_\_ is the most economically sound measure of the benefits of an intervention, because it specifically and directly measures a person's "utility."
A) QALY (Quality Adjusted Life Year)
B) DALY (Disability Adjusted Life Year)
C) Q-bert 
D) Q-Tip

Answer 4

A) QALY (Quality Adjusted Life Year)

Question 5

It has the unique advantage in simulating  the progress of chronic diseases that have relapse patterns or a long monitoring period....
A) Decision tree
B) Markov Cohort Model
C) The Tree of Life
D) The Joshua Tree

Answer 5

B) Markov Cohort Model

Question 6

The average price at which a wholesaler sells medications to providers (e.g., hospitals, physicians, and pharmacists)…
A. Acquisition cost (AC)
B. Average wholesale price (AWP)
C. Average sale price (ASP)
D. None of the above

Answer 6

B) Average wholesale price (AWP)

Question 7

ResourceBased Relative Value Scale (RBRVS)…
A. is a Medicareled reform payment system
B. is feeforservice payment
C. is now used, in various forms, by private as well as public payers
D. B and C only
E. All of the above

Answer 7

E) ALL

Question 8

Budget impact models are developed to demonstrate the impact of cost for a \_\_\_\_\_ over time for a period of time.
A. country
B. insurance carrier
C. hospital or institution
D. A and B only
E. All of the above

Answer 8

E) ALL