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.

---

Definitions:

Explanatory Style

A psychological attribute that indicates how people explain to themselves why they experience particular events, either positive or negative.

Valid Concern

Any issue or problem that is grounded in reality and deemed legitimate or reasonable to worry about or consider.

Disaster Component

A critical aspect or feature of a disaster, including elements that contribute to the severity and impact of the disaster.

Business Recessions

Economic periods characterized by a significant decline in general economic activity in a designated region, typically evident in GDP, real income, employment, industrial production, and wholesale-retail sales.