Suppose That All Workers Value a 1% Reduction in the Workplace

question 50

Multiple Choice

Suppose that all workers value a 1% reduction in the workplace injury rate at $1,000.The cost of reducing the injury rate by 1% is $200 per worker.Firms currently pay $20,000 per year to workers,without any effort to improve safety.
Suppose new firms began to offer workers $19,500 and a 1% reduction in the injury rate.The total cost of hiring a worker to the existing firms is __________ and to the new firms it is __________.

• A)$20,000;$19,500
• B)$20,000;$18,500
• C)$19,800;$19,500
• D)$20,000;$19,700

Calculate the reciprocal value of currency exchange rates.

Identify the effects of currency appreciation and depreciation.

Convert currency values based on given exchange rates.

Understand the historical context and policies affecting the currency exchange system.

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