Week 2

Question 1

VSL

Answer 1

value of a statistical life

Question 2

Is VSL good for cost-benefit analysis?

Answer 2

yes

Question 3

QALY

Answer 3

quality adjusted life year

Question 4

QALY of 1 =?

Answer 4

1 year in perfect health

Question 5

QALY of 0=?

Answer 5

dead

Question 6

QALY measures the _____ and ______ of life lived

Answer 6

quantity and quality

Question 7

VSLY

Answer 7

value of statistical life year

Question 8

VSLY implies that saving the life of an older person is worth _____ than saving the life of a young person

Answer 8

less

Question 9

VSL equation

Answer 9

VSL = V/deltP = value of change to person/ change in probability of death

Question 10

can QALY be used in cost-benefit analysis?

Answer 10

no

Question 11

QALY is usually used in a _______ ________ analysis

Answer 11

cost-effectivenes

Question 12

two ways to determine VSL

Answer 12

revealed-preference approach, stated-preference approach

Question 13

does the QALY evaluate the value of a life year?

Answer 13

no, just the quality from 0 to 1

Question 14

is QALY more objective than VSL?

Answer 14

no

Question 15

what is QALY used for?

Answer 15

assessing medical interventions

Question 16

what is VSL used for

Answer 16

assessing policy

Question 17

what is VSLY used for

Answer 17

assessing policy

Question 18

Externalities occur when ______ _____or benefits deviate from _____ _______ or benefits

Answer 18

private costs , public costs

Question 19

WTP

Answer 19

willingness to pay

Question 20

choose between 2 policies with different VSL’s using the ____ ______ ratio

Answer 20

benefit costs

Question 21

the social costs of consuming fossil fuels are ____ than the private costs

Answer 21

higher

Question 22

TSCA

Answer 22

toxic substance control act

Question 23

CERCLA

Answer 23

EPA superfund program

Question 24

What is triclosan used for ?

Answer 24

Antibacterial and antifungal agent

Question 25

year and president of TSCA

Answer 25

1976 under Pres. Ford

Question 26

the TSCA presumes chemicals are ______ unless proven otherwise

Answer 26

safe

Question 27

once an ‘agent’ is submitted, the EPA has ___ days to respond

Answer 27

90

Question 28

the EPA has restricted _____ substances

Answer 28

5

Question 29

CERCLA

Answer 29

Comprehensive Environmental Response,

Compensation, and Liability Act

Question 30

4 common superfund chemicals

Answer 30

arsenic, lead, mercury, benzene

Question 31

once an ‘agent’ is submitted, the EPA has ___ days to respond

Answer 31

90

Question 32

the EPA has restricted _____ substances

Answer 32

5

Question 33

CERCLA

Answer 33

Comprehensive Environmental Response,

Compensation, and Liability Act

Question 34

4 common superfund chemicals

Answer 34

arsenic, lead, mercury, benzene

Question 35

superfund media cost per cancer case avoided

Answer 35

55 million