Question

Question 18

Covid-19 is arguably a black swan event that has put pressure on the demand curve for hospital services but may not increase revenue or profits for hospitals

Question 18 options:

	True
	False

Question 19

In the U.S. Medicaid and Medicare are entitlement programs that are paid for via fiscal policy

Question 19 options:

	True
	False

Question 20

The fundamental elements of supply and demand curves, price floors and ceilings, elasticity and inelasticity of demand, shortages and surpluses can all be expressed in discussions regarding healthcare costs, free trade and protectionism

Question 20 options:

	True
	False

Answer 1

Ans.
A18

This statement is true. COVID 19 is indeed a black swan event.
Many hospitals are making losses and get low payments from the governments, many people have lost jobs and are un insured from their employers, many surgeries have been cancelled and for hospitals the cost of treatments of COVID due to PPE has increased.
Covid-19 is arguably a black swan event that has put pressure on the demand curve for hospital services but may not increase revenue or profits for hospitals . This statement is true.
A19
This statement is true. Medicaid and Medicare are entitlement programs that are paid for via fiscal policy . They are part of the Mandatory expenditure category.
A20
This statement is true. All these economic elements can be applied to in discussion regarding healthcare cost , protectionism and free trade.
The fundamental elements of supply and demand curves, price floors and ceilings, elasticity and inelasticity of demand, shortages and surpluses can all be expressed in discussions regarding healthcare costs, free trade and protectionism