An economist estimates the value of a nature preserve by calculating the price premium people pay for houses located adjacent to the preserve. This is an example of what type of economic valuation?
a. Hedonic pricing
b. Production function valuation
c. Contingent valuation
d. Travel cost method
e. Engineering cost valuation
Ans: a. Hedonic pricing
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Which of the following is likely to increase the total efficiency units of labor in an economy?
A) An increase in the level of education attained by each worker B) An increase in the amount of capital available to each worker C) An increase in the inflation rate in the economy D) An increase in the unemployment rate in the economy
All of the following are part of the "regulation of health insurance" provision of the Patient Protection and Affordable Care Act (ACA) except
A) limits on the size of deductibles and on waiting periods before coverage takes effect have been eliminated. B) lifetime dollar maximums on coverage are prohibited. C) all policies must provide coverage for dependant children up to age 26. D) individuals with pre-existing medical conditions are able to acquire health insurance.
A country has $60 million of saving and domestic investment of $40 million. Net exports are
a. $20 million. b. -$20 million. c. $100 million. d. -$100 million.
Utility analysis helps economists determine
A. marginal tax rates. B. how people decide how many units of products to buy. C. interest rates. D. none of the above.