What Would Be the Result of National Laws Protecting the Health

question 155

Multiple Choice

What would be the result of national laws protecting the health and safety of workers completely eliminated any and all risk?

• A)Workers in risky occupations become better off.
• B)Compensating wage differentials disappear and workers in risky occupations may be no better off.
• C)Compensating differentials would grow because workers could not be compensated by being given lower risk jobs.
• D)More people would be employed.

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Definitions:

Supply and Demand

Supply and demand are economic principles describing the relationship between the quantity of a commodity available and the quantity that consumers are willing and able to purchase.

Permit Price

The cost associated with acquiring a license or permit to engage in a certain activity or operation, often seen in environmental regulations or zoning laws.

Tradable Emissions Permits

Market-based allowances to emit a certain amount of pollution, which companies can buy or sell depending on their need to emit more or less than their allocation.

Equilibrium Price

The rate at which the demand for a good or service perfectly balances with its supply.