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:

Static Process

A process or condition that remains constant or unchanged over time, lacking in dynamic or evolutionary development.

Cognitive Development

The process by which individuals acquire and understand knowledge through thought, experience, and the senses.

Preoperational Stage

A stage in Piaget's theory of cognitive development, occurring from about ages 2 to 7, characterized by symbolic thought but limited by egocentrism and a lack of logical operations.

Difference-Equals-Deficit Error

The mistaken belief that a deviation from some norm is necessarily inferior.