To Increase Safety at a Bad Intersection, the Mayor Must

question 425

Multiple Choice

To increase safety at a bad intersection, the mayor must decide whether to install a traffic light at a cost of $45,000. If the traffic light reduces the risk of fatality by 0.4 percent, and the value of a human life is estimated to be $10 million, the mayor should

• A)install the light because the expected benefit of $400,000 is greater than the cost.
• B)install the light because the expected benefit of $45,000 is greater than the cost.
• C)not install the light because the expected benefit of $45,000 is only equal to the cost.
• D)not install the light because the expected benefit of $40,000 is less than the cost.

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Definitions:

Population Growth

The increase in the number of individuals in a population, often considered for a specific area and time period.

Food Supply

The total amount of food available for consumption by a population, affecting nutritional status and food security.

Thomas Malthus

An English scholar known for his theories on population growth and its impacts on resources.

Per Capita GDP

A measure of the average economic output per person in a country, calculated by dividing the country's gross domestic product by its total population.