New CPT Codes Go into Effect Each Year On

question 49

Multiple Choice

New CPT codes go into effect each year on:

• A) April 1st.
• B) October 1st.
• C) July 1st.
• D) January 1st.

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Definitions:

Housing Bubble

A temporary condition characterized by an unusual increase in housing prices fueled by demand, speculation, and exuberant spending to the levels that income levels do not support.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded by consumers, usually downward sloping to the right indicating inverse relationship between price and quantity demanded.

Normal Good

A good for which demand increases as the income of the consumer increases, and vice versa.

Income Increase

Refers to a rise in the amount of money earned by an individual or entity, which can affect purchasing power and economic status.