1 Older people in both England and the United States tend to discount their own

1 older people in both england and the united states

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3.To determine the amount of compensation in wrongful-death lawsuits. 4.All of the above. 5.None of the above. 8. According to the article “Balancing Act: Lives vs. Regulations”, what do the economists Viscusi and Jones-Lee find? 1.Older people in both England and the United States tend to discount their own lives. 2.Older people in the United States only tend to discount their own lives. 3.Older people tend to more highly value their own lives. 4.Older people tend to live longer than younger people. 5.Society tends to place an equal value on all lives. 9. According to the article “Balancing Act: Lives vs. Regulations”, what is the “senior death discount”? 1.A phrase used to refer to a 37% discount put on the value of saving an older person’s life by the EPA when doing cost benefit analysis. 2.A discount given to senior citizens when paying government fees. 3.A phrase used to refer to the reduction in life expectancy of senior citizens. 4.A common 37% discount given to senior citizens applying for death benefits from social security. 5.A phrase used to refer to the commonly held social belief that senior citizens are less valuable than younger people.
910. According to the article “How Much Is Your Time Worth”, why did Sarah Kalliney, the Manhattan executive, fight Sprint over a late fee? 1.She got satisfaction from preventing them from taking money from her that she felt was not theirs to take. 2.Her time was less valuable than the amount of the late fee, so it made economic sense to fight for a return of the fee. 3.She made an irrational decision to fight for the fee because her time was too valuable. 4.She made a bad decision to fight for the fee. Her decision was based on bad information. 5.None of the above. 11. According to the article “How Much Is Your Time Worth”, you may decide to change the oil in your car on your own: 1.Even if it costs you more than paying a mechanic to change the oil as long as you enjoy changing the oil yourself. 2.Even if you dislike changing the oil yourself as long as it costs you less in time and supplies than you would pay a mechanic to change the oil for you. 3.And this might be a bad decision for you if you miscalculate your true costs and benefits of changing the oil yourself. 4.All of the above. 5.None of the above. 12. According to the article “EPA Knocks $900,000 off Value of a Life”, the Environmental Protection Agency (EPA) reduced the value of saving a human life by $900,000. What is the economic significance of this reduction? 1.It means less human lives will be saved through environmental protection regulations. 2.It means the EPA believes it is now less costly to save a human life and more environmental protection regulations will now pass the cost benefit analysis test. 3.It means that more environmental protection regulations will be found to be economically advisable through cost benefit analysis.

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