It Is Often Important in Cost-Benefit Analysis to Distinguish Between

question 4

Multiple Choice

It is often important in cost-benefit analysis to distinguish between non-market values and direct values attached to direct use.Why is it important to include non-market values in an analysis?

• A)non-market values are easier to estimate than direct use values
• B)non-market values are more accurate than market values
• C)non-market values reflect supply and demand more accurately
• D)non-market values reflect the costs and benefits to society, not just to private individuals

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Definitions:

Union Shop Contract

An employment agreement requiring non-union workers to join the union within a certain period of hiring, to remain employed.

Union Members

Individuals who are part of a labor union, an organization that represents workers in negotiations with employers over wages, benefits, and working conditions.

Employer

An individual or organization that hires and pays for the services of workers or employees.

Title VII

A section of the Civil Rights Act of 1964 that prohibits employment discrimination based on race, color, religion, sex, or national origin.