If Life Expectancy Continues to Increase

question 1

Multiple Choice

If life expectancy continues to increase,

• A) the number of well-years will decrease.
• B) the number of people dying of a chronic illness will increase.
• C) the role of health psychology will diminish.
• D) more people will die of acute illnesses.

Recognize the role of factor incomes in the economy and their distribution among different factors of production.

Understand the relationship between the price of a good and the demand for the factor that produces it.

Grasp the concept of the marginal product of labor and its impact on labor demand.

Recognize the conditions under which a firm should hire more or less labor.