Suppose you are asked to use the standard time trade-off approach to measuring quality of life and are given the following information. An individual is faced with living the remaining 10 years of her life suffering from severe osteoporosis. She reveals that she would be willing to give up four of those years to live the remaining six in perfect health. What is the utility of one year in the
chronic health state relative to perfect health?
a. 4
b. 6
c. 0.4
d. 0.6
e. There is not enough information to determine the utility of life in this case
D
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Intergovernmental revenue is an insignificant source of state and local revenue
a. True b. False
The demand for bonds curve slopes downwards because
A) at higher prices, bonds pay higher interest which makes them more attractive to buyers. B) lower prices reduce the cost of borrowing which makes them less attractive to buyers. C) at lower prices, bonds pay higher interest which makes them more attractive to buyers. D) higher prices raise the cost of borrowing which makes them less attractive to buyers.
The U.S. Federal government is unlikely to default on its bonds because:
A. The bonds are all long term bonds and they are insured B. The Federal government has the ability to collect taxes and to sell securities to the Fed C. Foreigners are willing to buy the Federal government bonds and lend to the U.S. government D. The Federal government can always borrow from the states and from businesses
Which of the following industries have been deregulated in recent year?
a) low-cost housing b) pharmaceuticals c) airlines d) steel