To estimate the value of a statistical life, economists sometimes ask people how much they would be willing to pay to reduce their risk of death by a small amount. This method of determining the value of a statistical life is known as
A. stated preference.
B. the survey method.
C. revealed preference.
D. the actuarial method.
Answer: A
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Indicate whether the statement is true or false
Demand-pull inflation is associated with:
a. decreasing total spending (demand). b. increasing total spending (demand). c. decreasing costs of production (supply). d. increasing costs of production (supply).
Which of the following "costs" could a firm that wants to remain in business avoid if it halted current production?
A. Opportunity costs B. Variable costs C. Fixed costs D. Sunk costs
A mortgage that adjusts the nominal interest rate to changing rates of inflation is
A. A PPI. B. An ARM. C. A GDM. D. A COLA.