Most of the Economic Values We Use in Our Evaluation

question 14

Multiple Choice

Most of the economic values we use in our evaluation of engineering projects are

• A)precise and very descriptive.
• B)approximate.
• C)based on robust statistical estimation.
• D)derived from natural experiments.
• E)results of precise statistical surveys.

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Definitions:

Can Be Verified

Indicates that a certain piece of information, claim, or data can be checked and confirmed for accuracy or truthfulness.

Positive Economic Statement

An objective statement based on empirical evidence that describes the world as it is. These statements can be tested and validated through observation.

Marginal Tax Rates

The rate at which tax is charged on an additional dollar of income, which can vary based on income levels and tax brackets.

Gasoline Purchased

The amount of gasoline acquired by consumers, often measured in gallons or liters, for the purpose of powering vehicles.