Which of the Following Techniques Is Used by Economists to Value

question 26

Multiple Choice

Which of the following techniques is used by economists to value years of life saved by a highway safety program

• A) measuring the increased income that it allows
• B) trying to get those affected by the improved safety to reveal their willingness to pay for the reduced risk of death
• C) either a or b
• D) none of the above, because economists believe that it is impossible to put a value on life

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Definitions:

Finished Goods

Products that have completed the manufacturing process and are ready to be sold to consumers.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, and net income.

Funds Flow

The movement of cash in and out of a business or financial system, reflecting its operational, financing, and investing activities.

Net Book Value

Net book value is the value at which an asset is carried on a balance sheet, equal to its cost minus accumulated depreciation and impairment charges.