If a Life Can Be Saved for $250 Using Method

question 101

Multiple Choice

If a life can be saved for $250 using Method A and $260 using Method B,

• A) it would be efficient to shift resources from A to B
• B) it would be efficient to shift resources from B to A
• C) both methods should be pursued to the maximum extent possible
• D) neither method should be used if methods with higher dollar values are available
• E) both methods are on the economy's production possibilities frontier

---

Definitions:

Eurozone

The group of European Union countries that have adopted the euro as their official currency.

Common Currency

A currency that is used by several countries, facilitating the ease of trade and financial transactions between them.

Trade Liberalization

The process of reducing tariffs, quotas, and other barriers to allow for the free flow of goods between countries.