The Program for the All-Inclusive Care for the Elderly (PACE)

question 39

Multiple Choice

The Program for the All-Inclusive Care for the Elderly (PACE) :

• A) focuses on only a small number of frail elders who are eligible for nursing home placement.
• B) provides basic Medicare and Medicaid services.
• C) combines primary with long term care.
• D) all of the above.

---

Definitions:

Excess Capacity

A situation where a firm is operating below its maximum output capacity, indicating resources are not being used efficiently.

Monopolistic Competition

A market structure characterized by many sellers offering differentiated products, with some degree of market power.

Vacancy Rate

The percentage of all available units in a housing development or commercial property that are unoccupied or not rented at a given time.

Marginal Cost

Represents the cost incurred by producing one additional unit of a product or service.