Which of the following techniques is used by economists to value years of life saved by a highwaysafety program?Either measuring the increased income that it allows or trying to get those affected by the improved safety toreveal their willingness to pay for the reduced risk of deathTrying to get those affected by the improved safety to reveal their willingness to pay for the reduced risk ofdeathnone of the other answers is correct, because economists believe that it is impossible to put a value on lifeMeasuring the increased income that it allows

Economists use cost-benefit analysis to evaluate the viability and efficacy of different policies…

Which of the following techniques is used by economists to value years of life saved by a highway safety program? Either measuring the increased income that it allows or trying to get those affected by the improved safety to reveal their willingness to pay for the reduced risk of death O Trying to get those affected by the improved safety to reveal their willingness to pay for the reduced risk of death O none of the other answers is correct, because economists believe that it is impossible to put a value on life O Measuring the increased income that it allows

Which of the following techniques is used by economists to value years of life saved by a highway safety program? Either measuring the increased income that it allows or trying to get those affected by the improved safety to reveal their willingness to pay for the reduced risk of death O Trying to get those affected by the improved safety to reveal their willingness to pay for the reduced risk of death O none of the other answers is correct, because economists believe that it is impossible to put a value on life O Measuring the increased income that it allows

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter8: Market Failure

Section: Chapter Questions

Problem 10P

See similar textbooks

Similar questions

Do you believe expenditures for child care and fitness facilities are warranted from a cost-benefit perspective? Why or why not?
People tend to view car travel as being safer than airplane travel, but a person is how many times more likely to die from a car accident than from an airplane crash?
What are the 3 main factors, that fueled the rise of AI?
Why economics is essential in addressing the health-related problem?
What is the opportunity cost of having health insurance? What is the opportunity cost of not having health insurance
How can you relate the changes in vaccines to overall growth in the economy and the production possibilities curve?
Situation A: If a person lives for 3 years with a disease and the current standard of care for that disease means he/she lives with a utility level of 0.7 .-What is the QALY? If that person takes a new medicine (Medicine A) because of which his/her utility level increases to 0.8,-What will be the new QALY? Calculate the benefit of new medicine.
There are many ways to define and measure the benefits and costs that go into the GPI. How do you think a person with a biocentric worldview would measure these differently from a person with an anthropocentric worldview? Whose GPI for the year 2005 would likely be higher?
1. If you are trying to use a RDD setup to evaluate the effect of health insurance on health, and you qualify for a health insurance subsidy if your family income is below $20,000. What's the running variable? What's treatment, and what's the outcome?
A recent trend in health insurance is the Health Savings Account (HSA). The idea behind Health Savings Accounts is that rather than providing employees with health insurance that makes visiting doctors cost little more than a simple $10 or $20 copay the employer gives the employee money to use to spend on health care, but the employee bares the entire cost of seeing the doctor. What money given for health care not spent by the employee can be withdrawn by the employee as if it was additional income. It is believed that Health Savings Accounts will reduce the total amount of money spent on seeing doctors. Using Supply and Demand analysis, explain why there is the expectation that HSA’s will reduce spending on doctors.
1. Suppose a new drug was discovered that slowed the deterioration of health that accompanies aging. (All the graphs you draw should include labels, down and right arrows to indicate the changes before and after the new drug were discovered) a. What's the effect on the available time for work Tw and play Tz? Draw its labor–leisure graph including both budget constraints and indifference curve. b. What's the effect on optimal health H* ? Draw its marginal efficiency of capital (MEC) curve. c. Draw the production possibilities frontier. Explain it.
Explain and justify how the budget use to paid the health workers in the mids of pandemic without any delay and with benefits.