Which Argument in Favor of Enacting Workplace Safety Regulations Can

question 68

Multiple Choice

Which argument in favor of enacting workplace safety regulations can be justified using economic tools or observation?

• A)Analyzing safety in terms of monetary costs and benefits is inappropriate.
• B)Concerns about relative income encourage some workers to accept risk in exchange for higher wages, leading to an inefficient outcome.
• C)Economic regulations in competitive markets generally increase total economic surplus.
• D)Firms that exploit workers typically earn high profits for the owners, while the workers bear the risk of injury.

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Definitions:

Interest Rate

The expense, depicted as a percentage of the principal sum, that a borrower must bear for the borrowing of assets from a lender.

Foreign-Currency Exchange

The conversion of one country's currency into another's, a key process in international trade and investments.

Net Exports

The disparity between what a nation exports and what it imports in total.

Import Quota

A limit set by the government on the amount or cost of products allowed to be brought into a country from abroad.