Suppose a dangerous workplace is made safer through the installation of guards and other equipment that reduce the physical hazards of the work environment. If we observe no reduction in injuries, we might conclude that
A) the safety equipment isn't adequate and better equipment should be installed.
B) the firm has responded by lowering wages and hiring less capable people who are more likely to be injured.
C) the injury rate before installation of the safety equipment had been underreported.
D) workers responded to the safer environment by not exercising as much care themselves, generating more injuries than if they had not changed their behavior.
D
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The marginal revenue product represents
A) the marginal physical product of labor divided by the price of the good produced. B) the worker's contribution to the firm's total revenues. C) the worker's contribution to the firm's output. D) the value of each additional unit of output.
A negative income tax program provides a simple way to assist the unemployed
a. True b. False Indicate whether the statement is true or false
The destruction of manufacturing jobs and workers leaving their jobs to find better ones both contribute to frictional unemployment
a. True b. False Indicate whether the statement is true or false
An economic expansion caused by a shift in aggregate demand causes prices to
a. rise in the short run, and rise even more in the long run. b. rise in the short run, and fall back to their original level in the long run. c. fall in the short run, and fall even more in the long run. d. fall in the short run, and rise back to their original level in the long run.