Simply Asking People How Much They Value a Highway Is

question 227

Multiple Choice

Simply asking people how much they value a highway is not a reliable way of measuring the benefits and costs because

• A)those who stand to gain have an incentive to tell the truth.
• B)those who stand to lose have an incentive to exaggerate their true costs.
• C)answers to the survey questions will always be downwardly biased.
• D)not everyone asked will be using the highway.

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Definitions:

Risk Of Loss

The potential for an asset to be lost, damaged, or destroyed, impacting its owner's financial position.

Goods-In-Bailment Contract

An agreement where personal property is transferred temporarily into the custody of another for a designated purpose.

Negotiable Document

A document guaranteeing the transfer of certain rights which can be transferred from one party to another through endorsement or delivery.

Nonnegotiable Document

A legal or official document whose terms and conditions cannot be altered or bargained over.