One way to place a value on human life is to examine the risks that people voluntarily take and how much they must be paid for taking them. What is the approximate value of a human life according to studies that use this approach?
According to these studies, the value of a human life is about $10 million. (This is the number cited by Mankiw. The "correctness" of an answer, of course, is determined by instructor discretion.)
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For a monopolistically competitive firm, the demand curve
A) is a horizontal line. B) has a positive slope. C) is vertical. D) has a negative slope. E) is the same as the marginal revenue curve.
If 
j is an OLS estimator of a regression coefficient associated with one of the explanatory variables, such that j = 1, 2, …., n, asymptotic standard error of 
j will refer to the:
A. estimated variance of 
j when the error term is normally distributed.
B. estimated variance of a given coefficient when the error term is not normally distributed.
C. square root of the estimated variance of 
j when the error term is normally distributed.
D. square root of the estimated variance of 
j when the error term is not normally distributed.