Respondents to Cost-Benefit Surveys

question 26

Multiple Choice

Respondents to cost-benefit surveys

• A)are unable to evaluate the effect of the project on their personal satisfaction.
• B)typically do not receive a direct benefit from government projects.
• C)have a difficult time identifying explicit costs.
• D)have little incentive to tell the truth.

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Definitions:

Comparative Advantage

The ability of an individual or country to produce a particular good or service at a lower opportunity cost than its competitors.

Standard Of Living

The level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class in a certain geographic area.

Natural Resources

Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain.

Standard Of Living

The degree of prosperity, convenience, and access to material possessions and basic needs experienced by an individual, community, or society.