Which of the following statements about the estimated economic loss of all motor vehicle crashes in 2012 is correct?

• A. There was no economic loss from motor vehicle crashes in 2012.
• B. The estimated economic loss was \$26,000.
• C. The estimated economic loss was much higher than \$26,000.
• D. The estimated economic loss was less than \$26,000.

Answer: (C)

Verified step by step guidance

1. Step 1: Understand the context of the problem, which is about the estimated economic loss from all motor vehicle crashes in 2012. Economic loss typically includes costs such as medical expenses, property damage, lost productivity, and other related costs.
2. Step 2: Recognize that the problem is asking to evaluate the correctness of statements regarding the magnitude of the economic loss, specifically whether it was zero, exactly \$26,000, less than \$26,000, or much higher than \$26,000.
3. Step 3: Recall or research typical economic loss estimates for motor vehicle crashes, which are generally very large due to the scale and severity of crashes nationwide. This helps in assessing the plausibility of the given options.
4. Step 4: Compare the given options logically: zero economic loss is unrealistic because crashes cause damages; \$26,000 is extremely low for total national losses; less than \$26,000 is also implausible; therefore, the economic loss must be much higher than \$26,000.
5. Step 5: Conclude that the correct statement is that the estimated economic loss was much higher than \$26,000, based on the understanding of typical economic impact data for motor vehicle crashes.