Steps in performing a cost-effectiveness analysis include all of these EXCEPT
a. ranking the alternative treatment options
b. prioritizing the alternative treatment options
c. calculating the ICER between each treatment option and the next most expensive one
d. eliminate treatment alternatives that are strictly dominated
B
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Suppose the nominal interest rate is 4% and the rate of inflation is 3%. The real interest rate is therefore
A) 7%. B) 1%. C) 0%. D) -1%. E) none of the above.
Jesse wants to maximize her net gains from working. She estimates that the 12th hour of work per week yields $10 of additional monetary and nonmonetary benefits, but involves $9 in additional costs. She should:
a. work for only 11 hours per week, since the 12th hour yields such a small net gain. b. work the 12th hour only if she can negotiate a higher wage for that hour. c. definitely work the 12th hour since doing so raises her net gain from working. d. work for only 11 hours since it doesn't make sense to undertake work that has positive costs associated with it
Monetary policy directly affects:
A. the antitrust laws. B. tax rates. C. social spending. D. the availability of credit.
An inflationary spiral can emerge when
A. Desired spending at full employment falls short of full-employment output. B. Actual investment equals desired investment. C. An increase in investment exceeds available savings. D. Desired leakages exceed desired injections.