The direct costs in an economic evaluation include the all the following except
a. hospitalization
b. medical devices
c. transportation to and from the physician's office
d. reduced productivity at work
e. All of the above
D
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At age 40, Joe is considering quitting his job and going back for a college degree. He needs two more years full-time. Tuition is $10,000 per year. He earns $30,000 per year. A college degree would raise his annual income by $10,000 per year. He will retire at age 70. Which of the following makes it more likely that Joe will decide to go back to college full-time?
A) The rate of interest increases. B) The rate of interest decreases. C) The government enacts mandatory retirement at age 60. D) Tuition increases.
A monopsonistic employer's marginal resource (labor) cost curve:
A. is always more elastic than the labor supply curve. B. coincides with the labor supply curve. C. lies below the labor supply curve because the higher wage paid to an additional worker must also be paid to all other employed workers. D. lies above the labor supply curve because the higher wage paid to an additional worker must also be paid to all other employed workers.