The _______ equates the value of a life to the market value of the output produced by an individual during his / her expected lifetime.
A) willingness-to-pay approach
B) cost-benefit approach
C) cost-effectiveness approach
D) human capital approach
E) cost-utility approach
Answer: D) human capital approach
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Why might stockholders be upset to find out that their company's profits that otherwise would have been distributed as dividends are instead invested in U.S. Treasury bonds?
What will be an ideal response?
According to economist Benjamin Friedman, sustained economic growth can make people more willing to work toward improving the environment and reducing poverty
Indicate whether the statement is true or false
Using purchasing power parity instead of exchange rates to calculate output will most likely:
A. lower the relative value of output in developing countries. B. show that prices in developing countries are higher than prices in developed countries. C. leave the relative value of output in developing countries unchanged. D. increase the relative value of output in developing countries.
Suppose a bumper wheat crop results in a 40 percent increase in output and sales, while the price elasticity of demand for wheat is about 0.8. Ceteris paribus, prices should
A. Rise by 8 percent. B. Rise by 50 percent. C. Fall by 8 percent. D. Fall by 50 percent.