Question

1. The labor demand curve tells us

A. the marginal product created by an additional worker times the wage.

B. the marginal revenue created by an additional worker.

C. how many workers the firm will want to hire, given the wage.

E. the marginal profit generated by an additional worker.

2. Third-party payers for medical care include all of the following EXCEPT:

a. employer-provided medical insurance.

b. Medicare

c. payments from the patient's savings

d. Medicaid

3. An employer retirement plan that provides a predetermined monthly amount of income when you retire is called a

A. Social Security plan.

B. 401(k) plan.

C. defined contribution plan.

D. defined benefit plan.

Answer 1

1) option (c) The labor demand curve tells us the how many workers the firm will want to hire,given the wage.

Because, A change in the wage or salary will result in a change in the quantity denand of labour. If the wage rate increases,employers will want to hire fewer employees.

2) Third-party payers for medical care include all of the following expect.

Option (c), payments from the patient's savings.,

Basically the third party payer tella about the organization can be either private or public entities , like health insurance company or medicare or Medicaid agency

And it also describes about the private insurance coverage and in some cases for public insurance programs as well.

3) An employer retirement plan that provides a predetermined monthly amount of income when you retire is called as

Option (d): defined benefit plan, it is a type of pension plan in which an employer promise a specified pension payment. Retirement that is predetermined by a formula based on the employee earnings history in a tenure of service rather than depending directly on individual.

Where as the remaining three tells different aspects.