If a Firm Makes Adjustments to Create a Safer Working

question 24

Multiple Choice

If a firm makes adjustments to create a safer working environment,then

• A) workers will demand higher wages.
• B) workers will accept lower wages.
• C) the firm will attract more skilled workers.
• D) the firm is no longer maximizing profits.
• E) answers B and D

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Definitions:

Unemployment

The condition wherein people who are able and willing to work and are actively looking for work cannot secure a job.

Contractionary Monetary Policy

A monetary policy strategy used by central banks to reduce inflation and cool an overheated economy by raising interest rates or increasing reserve requirements.

Inflation

The frequency at which the all-encompassing costs of goods and services heighten, eroding financial purchasing capability.

Unemployment Rate

The percentage of the labor force that is jobless and actively looking for work.