Recent Changes Occurring Within the U

question 197

Multiple Choice

Recent changes occurring within the U.S. health care system, including lower insurance reimbursement rates, have resulted in

• A) a growing number of doctors choosing to open private practices.
• B) more medical practices being owned by hospitals than by individual doctors.
• C) a majority of hospitals closing routine medical practices in order to focus only on emergency care facilities.
• D) a majority of doctors working directly for insurance companies.

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Definitions:

Inelastic Nature

Characterizes a product or service whose demand or supply does not significantly change in response to price adjustments.

Agricultural Demand

The desire and ability to purchase agricultural products at various prices.

U.S. Farm Exports

Agricultural products produced in the United States that are sold to other countries, contributing to the U.S. economy and global food supply.

Price Inelastic

Describes a situation where the demand for a product does not change much in response to changes in its price.