In Order for the Walsh-Healey Public Contracts Act to Protect

question 4

True/False

In order for the Walsh-Healey Public Contracts Act to protect laborers for contractors who furnish materials to any agency of the United States, the contract amount must be at least $10,000.

---

Definitions:

Socially Optimal

A situation in which resources are allocated in the most efficient way from the society's point of view, maximizing total welfare.

Pollution

The contamination of the natural environment by harmful substances or energies, which can affect air, water, and land negatively and pose risks to human health and ecosystems.

Marginal Benefit

The boost in utility or enjoyment derived from the additional consumption of a unit of a good or service.

Government Intervention

Actions taken by a government to affect the economy in various ways, such as through regulations, taxes, subsidies, or direct provision of goods and services.