Which of the Following Is a Strategy Used by Managers

question 40

Multiple Choice

Which of the following is a strategy used by managers to control the costs of health care?

• A)offering defined benefit pension plans
• B)offering long-term disability plans
• C)offering a short vesting period on pension plans
• D)offering wellness programs
• E)offering workers' compensation insurance

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Definitions:

Present Consumption

The use of goods and services for immediate satisfaction or needs, as opposed to saving or investing for future use.

Behavioral Economists

Economists who study the effects of psychological, social, cognitive, and emotional factors on the economic decisions of individuals and institutions and how those decisions vary from those implied by classical theory.

System 2

A concept from cognitive psychology that refers to the deliberate, analytical, and slow way of thinking, as opposed to quick, instinctual decisions.

Endowment Effect

The tendency for people to value something more highly simply because they own it.