Health Care Costs Rose More Than 10 Percent in 2011

question 257

Multiple Choice

Health care costs rose more than 10 percent in 2011, according to a survey of insurers by Aon Consulting Worldwide. If the increase in costs solely comes from increased prices for MRI and X-ray machines, then for the health care industry

• A) fixed costs are increasing.
• B) long run average total cost is decreasing.
• C) productivity is increasing.
• D) variable costs are increasing.

Understand how detailed schedules and budgets are developed during the planning phase.

Describe the importance of creating stakeholder alignment throughout the project.

Identify the concept of span of control within project management.

Understand the concept of the Darnall-Preston Complexity Index (DPCI) and its application in assessing project complexity.

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Definitions:

Fair Market Value

The amount for which a property would be sold in an open market transaction, involving a ready seller and a ready buyer, both possessing adequate awareness of the pertinent details.

Recovery

The action of regaining possession or obtaining compensation for a loss.

Recognizance

A legal obligation, acknowledged before a court, where an individual promises to adhere to certain conditions without the need for posting bail.

Acknowledges

The act of recognizing or admitting the existence or truth of something, often formally in writing.