Which of the Following Is an Approach Used by Economists

question 59

Multiple Choice

Which of the following is an approach used by economists to calculate the value of a human life?

• A)comparing the salaries of people who live in cities with more traffic lights to those who live in cities with fewer traffic lights
• B)comparing the wages of more risky occupations to less risky occupations
• C)comparing the costs of vehicles with safety features such as side-impact airbags to those without such safety features
• D)All of the above are correct.

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Definitions:

Warehouse

A large building where goods are stored before they are distributed to stores or customers.

Equipment

Tangible assets or physical items used in the operation of a business, such as machinery, tools, or computers.

Mutually Exclusive Projects

Projects involving investments where choosing one excludes the possibility of selecting another.

Discount Rate

The rate at which the Federal Reserve lends money to financial institutions through its discount window.