Final answer:
VSL in EPA calculations stands for Value of Statistical Life, which is used to quantify the economic benefits of pollution reduction relative to its costs.
Step-by-step explanation:
In calculations conducted by the U.S. Environmental Protection Agency (EPA), VSL stands for Value of Statistical Life. This concept is used to quantify the benefit of reducing risks to human life through environmental regulations and policies. Essentially, it represents the aggregate amount that individuals are willing to pay for marginal reductions in their risks of dying from various environmental hazards. The EPA's National Center for Environmental Economics uses VSL as a crucial component for evaluating the economic benefits of regulations that are designed to protect human health by reducing pollution.