Based Upon Your Knowledge, Understanding, and Analysis of the Definition

question 24

Multiple Choice

Based upon your knowledge, understanding, and analysis of the definition of long-term care, which statements below are true?

• A) The purpose of long-term care is to reverse, or cure the illness or disease or disability of the care recipient.
• B) The purpose of long-term care is to address the physical, social, mental, psychological and spiritual needs of the persons served until their outcomes are reversed.
• C) Both a and b
• D) Neither a nor b

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Definitions:

Marginal Cost

The money required to produce an additional unit of a product or service.

Marginal Benefit

The supplementary value derived from the consumption of an extra unit of a good or service.

Interest-Rate Cost-Of-Funds

This refers to the expense incurred by institutions when borrowing funds, influenced by the current interest rates.

Marginal Cost-Of-Funds

The additional cost of obtaining one more unit of funding.