1. Leila argues that gathering and publishing data on the mortality rates for different kinds of medical procedures is always a statistically sound practice. Albert, on the other hand, maintains that such figures are often misleading because physicians may decline services to patients whose likelihood of survival is low. Who is correct?

A. Both Leila and Albert are correct.

B. Neither Leila nor Albert is correct.

C. Albert is correct.

D. Leila is correct.

2. The process of assigning a/an _______ cost to resources with no obvious market price will employ some form of shadow pricing.

A. opportunity cost

B. advantage

C. monetized

D. social

3. When you assign a value to a cost or benefit based on observed behavior you are using _______.

A. shadow pricing

B. averting behavior

C. hedonic market analysis

D. revealed preference

4. In the general formula FV = PV(1 + r)n, in monetary terms, what does PV stand for?

A. Present value

B. Predicted values

C. Probable value

D. Potential value