Question

2. The present value of a payment of$5000 received 5 years in the future assuming a rate of 3% is

		A.                            $5000/(1+5)^3
		B.                            $5000/(1+.05)^3
		C.                            $5000/(1+.03)^5
		D                             $5000/(1.+3)^5

1. What is true about crystalized and fluid intelligence?

   		A.            Crystalized is use of learned knowledge and increases till age 14 and then falls, Fluid is use of logic and increases till age 65 and then falls
   		B.            Crystalized is the use of logic and increase till the age of 14 and then falls, Fluid is the use of learned knowledge and increases till age 65 and then falls
   		C.            Crystalized is the use of learned knowledge and increases till age 65 and then falls, Fluid is the use of logic and increases till age 14 and then falls
   		D. Crystalized is the use of learned knowledge and increases till age 14 and then falls, fluid is the use of logic and increases till age 65 and then falls

A Stock is a measurement between two points in time.

True

False

   If several persons with disease XYZ are asked a standard gamble question and they say on average they would take a 25% chance of death if an operation could totally cure them, we could calculate a QALY for XYZ as

		A.            (100-25)/100*.01
		B.            1.00-.75
		C             1.00-.25
		D             (1.00-.25)^n with n being the average age

6.            Using the rational model, the best way to quit addiction is:

		A.            Gradual withdrawal from the addictive substance
		B.            Use financial incentives to encourage withdrawal
		c.            Go Cold Turkey
		D.            Buy syringes to avoid problems during withdrawal

7. The Dutch Hunger Study (Ravelli, van der Meulen, Michaels, et al. 1998) mentioned in our book and in our lecture was a/an

		A. Randomized controlled trial
		B. Natural Experiment
		C. Compilation
		D. study using  Nazi German health experiment records

Using the Grossman model, aging will cause:

		A.    the COC curve to shift upwards because of increased depreciation
		B.   a rightward shift in the MEC curve because of increased opportunity cost
		C. downward shift in the COC curve because our intelligence improves with age
		D. a leftward shift in the MEC curve because older Americans are charged a higher cost

  When a you pay a specific amount per medical service, it is a

		A.            co-insurance
		B.            co-payment
		C.            deductible
		D.            balance billing

The RAND Health Insurance Experiment was a/an

		A.            Observational Studies
		B.            Natural experiment
		C.            Randomized controlled study.
		D.            Normative study

Answer 1

2.

F = P *(1+i)^t

Here F = 5000

I = 3% = 0.03

t = 5 yrs

P = 5000 / (1+0.03)^5

Therefore correct option is c

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