Suppose you are asked to use the standard time trade-off approach to measuring quality of life and are given the following information. An individual is faced with living the remaining 10 years of her life suffering from severe osteoporosis. She reveals that she would be willing to give up four of those years to live the remaining six in perfect health. What is the utility of one year in the
chronic health state relative to perfect health?
a. 4
b. 6
c. 0.4
d. 0.6
e. There is not enough information to determine the utility of life in this case
D
Economics
You might also like to view...
If 60 pesos can be exchanged for $5 in the foreign exchange market, which of the following represents the nominal exchange rate between the two currencies?
A) 12 dollars for 1 peso B) 5 pesos for 1 dollar C) 1 dollar for 60 pesos D) 1 dollar for 12 pesos
Economics
In dollar terms the most important of all forms of property and casualty insurance is
A) automobile liability insurance. B) home owners insurance. C) medical malpractice insurance. D) fire insurance.
Economics