The First Stage of Development of the Health Care System

question 25

Multiple Choice

The first stage of development of the health care system was characterized by what event?

• A) The rise in technology
• B) Epidemics of infectious disease, such as typhoid, influenza, and malaria
• C) Physicians and nurses who attained their skills in scientifically based programs
• D) An expansion of hospital clinics and long-term care facilities

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Definitions:

Secondary Mortgage Market

A market in which mortgages originated by a lender are sold to another financial institution. In recent years, the major buyers in this market have been Fannie Mae, Freddie Mac, and large investment banks.

Lending Standards

The criteria and guidelines used by financial institutions to determine the creditworthiness of prospective borrowers and to make decisions about loan applications.

Housing Prices

The amount of money required to buy homes in a particular area, which can fluctuate based on demand, location, and economic conditions.

Housing Bust

A rapid and significant decline in the housing market, characterized by falling home prices and increased foreclosures.