perseverance, and ability. Finally, employers seek references for insights into key attributes such as

energy level, work ethic, and so on.
562

3. It is almost impossible to distinguish whether a health outcome such as life expectancy was the result of

personal preferences that might affect health and longevity, such as diet, exercise, certain risky behavior,

and consumption of certain items like tobacco, or the result of expenditures on health care (for example,

annual check-ups).

Chapter 17

1. a. The management of small companies might rather do an IPO right away, but until they get the

company up and running, most people would not pay very much for the stock because of the risks

involved.

b. A small company may be earning few or zero profits, and its owners want to reinvest their earnings in

the future growth of the company. If this company issues bonds or borrows money, it is obligated to
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