Referring to the Information Below, Is It Correct and Why

question 108

Essay

Referring to the information below, is it correct and why?
Coding Scheme for Admission Type
1 = physician office
2 = emergency services
3 = outpatient clinic
4 = PPO, IPO
5 = transfer from a nursing home

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Definitions:

Production Possibilities Frontier

A graph that shows the highest potential production levels for two or more products based on available resources.

Full Employment

Full employment refers to the condition in which all available labor resources are being used in the most efficient way possible, minimizing unemployment to only frictional or structural levels.

Opportunity Cost

The value of the next best alternative forgone as a result of making a decision.

Submarine

A watercraft capable of independent operation underwater, often used for military purposes.