The value of life is calculated by comparing
A) wages to risk levels.
B) risk levels to the number of children in a worker's household.
C) wages to the number of children in a worker's household.
D) average life expectancy by occupation to average risk levels by industry.
E) average wages to the average retirement age.

Question

Quizplus · Accepted Answer

The value of life in economic terms is often calculated by comparing wages to risk levels. This method assesses how much extra pay workers require to accept jobs with higher levels of risk, implying a monetary value on the risk to life.

The Value of Life Is Calculated by Comparing