Question 1

Which of these systems has replaced in-house costing in many Canadian hospitals?

Accepted Answer

A)  case-costing 
B)  resource benchmarking 
C)  resource intensity weights (RIWs) 
D)  activity-based costing (AB
C)  
A)  case-costing 
B)  resource benchmarking 
C)  resource intensity weights (RIWs) 
D)  activity-based costing (AB
C)  C

Question 2

The study of economics is based on three premises. Which of the following statements describes one of those premises?

Accepted Answer

A)  abundance of resources 
B)  consumers' inability to pay 
C)  scarcity of resources 
D)  consumers' ability to pay 
A)  abundance of resources 
B)  consumers' inability to pay 
C)  scarcity of resources 
D)  consumers' ability to pay C

Question 3

Provinces that are considered less wealthy than their neighbouring provinces can qualify to receive equalization payments. The nurse knows that the equalization payments are paid out to the less wealthy provinces by the

Accepted Answer

A)  provincial and territorial governments. 
B)  federal government. 
C)  provincial government. 
D)  territorial government. 
A)  provincial and territorial governments. 
B)  federal government. 
C)  provincial government. 
D)  territorial government. B

Question 4

The study of clinical health care economics is based on the premise that, in the clinical environment,

Accepted Answer

A)  consumers have choices over the resources they need, receive, and use. 
B)  money is plentiful and resources are finite. 
C)  money is scarce and resources are infinite. 
D)  money and resources are scarce, and cost-effective decisions have to be made. 
A)  consumers have choices over the resources they need, receive, and use. 
B)  money is plentiful and resources are finite. 
C)  money is scarce and resources are infinite. 
D)  money and resources are scarce, and cost-effective decisions have to be made.

Question 5

Finance monies that are collected for Canada's health care system are distributed to the provinces and territories in the forms of payments from the

Accepted Answer

A)  federal government to the provincial and territorial governments. 
B)  provincial and territorial governments to the federal government. 
C)  territorial government to the federal government. 
D)  federal government to the territorial government. 
A)  federal government to the provincial and territorial governments. 
B)  provincial and territorial governments to the federal government. 
C)  territorial government to the federal government. 
D)  federal government to the territorial government.

Question 6

Often, health care prices for services and/or treatments are considered

Accepted Answer

A)  "more" elastic and variable with reference to price than consumer goods. 
B)  "less" elastic and variable with reference to price than consumer goods. 
C)  low in price when services are abundant. 
D)  high in price when services are scarce. 
A)  "more" elastic and variable with reference to price than consumer goods. 
B)  "less" elastic and variable with reference to price than consumer goods. 
C)  low in price when services are abundant. 
D)  high in price when services are scarce.

Question 7

To which of the following does the term P3 refer?

Accepted Answer

A)  public-private partnerships 
B)  for-profit services 
C)  out-of-pocket payments 
D)  private insurance through the big three insurers 
A)  public-private partnerships 
B)  for-profit services 
C)  out-of-pocket payments 
D)  private insurance through the big three insurers

Question 8

Which of these is the term for unselfish concern for the welfare of others?

Accepted Answer

A)  ethics 
B)  altruism 
C)  egoism 
D)  paternalism 
A)  ethics 
B)  altruism 
C)  egoism 
D)  paternalism

Question 9

Which one of the following statements best defines how a "culture of accountability" in health care is created? A "culture of accountability" in health care is created when all

Accepted Answer

A)  health care providers and their employers are committed to excellence. 
B)  stakeholders are held accountable to their performance and improving the quality of client care and services in the workplace. 
C)  health care providers, stakeholders, and organizations work together to create change and minimize costs. 
D)  stakeholders look at ways to cut costs and improve the quality of client care. 
A)  health care providers and their employers are committed to excellence. 
B)  stakeholders are held accountable to their performance and improving the quality of client care and services in the workplace. 
C)  health care providers, stakeholders, and organizations work together to create change and minimize costs. 
D)  stakeholders look at ways to cut costs and improve the quality of client care.

Question 10

Which of these statements best describes the outcome of health reform strategies such as the restructuring, outsourcing, right-sizing, and merging seen in the past 20 years?

Accepted Answer

A)  Costs are no longer a major concern. 
B)  Many costs have been reduced. 
C)  Costs have been contained. 
D)  The overall cost of health care continues to grow. 
A)  Costs are no longer a major concern. 
B)  Many costs have been reduced. 
C)  Costs have been contained. 
D)  The overall cost of health care continues to grow.

Question 11

Nurses today can contribute to quality outcomes and participate in cost savings measures in their clinical work areas. Which statement best describes the role of the nurse in demonstrating this? The nurse

Accepted Answer

A)  will take responsibility of financial stewardship and budgeting. 
B)  will be aware and involved in making appropriate choices related to scarce resources. 
C)  will do what is financially right in the workplace setting. 
D)  will be aware of clients' needs and the expenses related to them. 
A)  will take responsibility of financial stewardship and budgeting. 
B)  will be aware and involved in making appropriate choices related to scarce resources. 
C)  will do what is financially right in the workplace setting. 
D)  will be aware of clients' needs and the expenses related to them.

Question 12

Through which of these mechanisms do most health regions and hospitals receive funding from their provincial government?

Accepted Answer

A)  a needs-based funding formula 
B)  a program budgeting and marginal analysis (PBM
A)  
C)  a global budget 
D)  program budgets 
A)  a needs-based funding formula 
B)  a program budgeting and marginal analysis (PBM
A)  
C)  a global budget 
D)  program budgets

Question 13

What percentage of Canada's Gross Domestic Product (GDP) was spent on health care in 2010?

Accepted Answer

A)  2 percent 
B)  5 percent 
C)  12 percent 
D)  25 percent 
A)  2 percent 
B)  5 percent 
C)  12 percent 
D)  25 percent

Question 14

In health care, a traditional market economy model does not apply. Which of the following statements does NOT describe a main concept related to clinical health care economics?

Accepted Answer

A)  The buyer is a doctor or nurse who orders the treatment/service. 
B)  The provider or recipient of the treatment/service is not the buyer or payer. 
C)  The actual payer is a third-party reimburser, such as the government and/or insurance company. 
D)  Price is important to buyers and sellers. 
A)  The buyer is a doctor or nurse who orders the treatment/service. 
B)  The provider or recipient of the treatment/service is not the buyer or payer. 
C)  The actual payer is a third-party reimburser, such as the government and/or insurance company. 
D)  Price is important to buyers and sellers.

Question 15

Which one of the following statements does NOT apply to the main concepts of a traditional market economy?

Accepted Answer

A)  Sellers sell services and/or products to buyers. 
B)  Buyers pay sellers for services and/or products. 
C)  Buyers and sellers try to maximize profits and/or get the most for their money. 
D)  Price is not important to buyers and sellers. 
A)  Sellers sell services and/or products to buyers. 
B)  Buyers pay sellers for services and/or products. 
C)  Buyers and sellers try to maximize profits and/or get the most for their money. 
D)  Price is not important to buyers and sellers.

Question 16

What is the term for the price that a consumer is willing to pay for a service or product?

Accepted Answer

A)  cost price 
B)  buyer price 
C)  payer price 
D)  price elasticity 
A)  cost price 
B)  buyer price 
C)  payer price 
D)  price elasticity

Question 17

Which strategy is included in financial reform for health care in Canada?

Accepted Answer

A)  de-insuring certain services 
B)  introducing co-payments 
C)  charging some user fees 
D)  extending the use of fee-for-service to other providers 
A)  de-insuring certain services 
B)  introducing co-payments 
C)  charging some user fees 
D)  extending the use of fee-for-service to other providers

Question 18

Which of the following is the term for the way in which provinces and territories pay their physician health care providers?

Accepted Answer

A)  physician remuneration 
B)  fee-for-service 
C)  the delivery function 
D)  the funding function 
A)  physician remuneration 
B)  fee-for-service 
C)  the delivery function 
D)  the funding function

Question 19

When demand is low and supply is high, the price of the product and/or service can decrease.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following factors is NOT expected to contribute to the growing cost of health care?

Accepted Answer

A)  increasing rates of debilitating diseases associated with aging 
B)  increased use of expensive technology 
C)  emergence of new infectious diseases 
D)  expanded roles for nurses 
A)  increasing rates of debilitating diseases associated with aging 
B)  increased use of expensive technology 
C)  emergence of new infectious diseases 
D)  expanded roles for nurses

Exam 2: Basic Clinical Health Care Economics

Which of these systems has replaced in-house costing in many Canadian hospitals?

The study of economics is based on three premises. Which of the following statements describes one of those premises?

Provinces that are considered less wealthy than their neighbouring provinces can qualify to receive equalization payments. The nurse knows that the equalization payments are paid out to the less wealthy provinces by the

The study of clinical health care economics is based on the premise that, in the clinical environment,

Finance monies that are collected for Canada's health care system are distributed to the provinces and territories in the forms of payments from the

Often, health care prices for services and/or treatments are considered

To which of the following does the term P3 refer?

Which of these is the term for unselfish concern for the welfare of others?

Which one of the following statements best defines how a "culture of accountability" in health care is created? A "culture of accountability" in health care is created when all

Which of these statements best describes the outcome of health reform strategies such as the restructuring, outsourcing, right-sizing, and merging seen in the past 20 years?

Nurses today can contribute to quality outcomes and participate in cost savings measures in their clinical work areas. Which statement best describes the role of the nurse in demonstrating this? The nurse

Through which of these mechanisms do most health regions and hospitals receive funding from their provincial government?

What percentage of Canada's Gross Domestic Product (GDP) was spent on health care in 2010?

In health care, a traditional market economy model does not apply. Which of the following statements does NOT describe a main concept related to clinical health care economics?

Which one of the following statements does NOT apply to the main concepts of a traditional market economy?

What is the term for the price that a consumer is willing to pay for a service or product?

Which strategy is included in financial reform for health care in Canada?

Which of the following is the term for the way in which provinces and territories pay their physician health care providers?

When demand is low and supply is high, the price of the product and/or service can decrease.

Which of the following factors is NOT expected to contribute to the growing cost of health care?

Canadas Health Care Environment

Evidence-Based Practice

Nursing and Health Care Informatics

Population-Based Health Care Practice

Personal and Interprofessional Communication

Politics and Consumer Partnerships

Nursing Leadership and Management

Current Issues and Trends

Effective Team Building

Budget Concepts for Client Care

Effective Staffing

Delegation of Nursing Care

Strategic Planning and Organizing Client Care

Change, Innovation, and Conflict Resolution

Power

Managing Performance and Outcomes Using an Organizational Quality Improvement Model

Decision Making

Legal Aspects of Client Care

Spirituality and the Profession of Nursing

Ethics and the Profession of Nursing

Collective Bargaining

Career Planning and Development: Creating Your Path to the Future

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