1.An economist estimates that a worker needs an hourly wage increase of$10 to assume a riskier job. This is an example of

A. expressed preference

B. revealed preference

C. risk aversion

D. none of the above

2. If an individual is indifferent between A) a treatment that has an 70% chance of a cure and a 30% chance of death and B) living with his condition, then quality of life with his condition must be

A. 0.6

B. 0.7

C. 0.8

D. 0.9

3.If I am willing to pay $100 to lower my probability of death by 1%, then my statistical value of a life is:

A. $100,000

B. $1,000,000

C. $1,000

D. $10,000

4.Study A compares Drug A to a placebo while study B compares Drug B to a placebo.If I use these two studies to infer the effect of Drug A relative to B, I am

A. Making an direct comparison

B. Performing a meta-analysis

C. Making a revealed comparison

D. Making an indirect comparison

5.If the total cost for care at a clinic is $10,000 and that clinic treats 10 patients, then

A. The marginal cost of care at that clinic is $50

B. The total cost of care at that clinic is $1,000

C. The average cost of care at that clinic is $1,000

D. The variable cost of care at that clinical is $5,000