Which of the Following Statements Is True

question 104

Multiple Choice

Which of the following statements is true?

• A) Surveys are not used to measure the marginal benefit curves for emissions.
• B) Surveys are used to measure the marginal benefit curves for emissions.
• C) Surveys are not used to measure the marginal cost curves for emissions.
• D) Economists rely exclusively on engineers to provide accurate estimates of the benefits and costs of pollution.

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Definitions:

Rational Allocate

The process of distributing resources or effort in a way that maximizes the achievement of objectives, based on logical reasoning.

Normative Statement

Statements that express opinions, values, or prescriptions for how the world should be, rather than stating facts.

Value Judgments

Evaluations based on individual or societal beliefs about what is good, desirable, or worthwhile, often influenced by personal ethics or morals.

Law of Averages

A layman's term for the statistical principle that over time, outcomes will tend towards the expected average; not a formal economic law. NO.