Recall the Application about how the effect of a more dangerous job on wages may be used to calculate the value of a statistical life to answer the following question(s).According to the Application, one way to calculate the value of a statistical life is to compare how much more workers are paid with:
A. the the increase in the probability of dying on the job.
B. the average age of death for people who worked in that type of job.
C. the number of people how died in that job that year.
D. how much the company pays for life insurance for their workers.
Answer: A
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The second largest source of income for the federal budget is:
a. personal income taxes. b. corporate income taxes. c. payroll taxes. d. inheritance taxes.
Labor-market discrimination is evident when
a. wages of individuals differ on the basis of some recognizable attribute that is unrelated to productivity. b. wage rates differ for similar jobs. c. consumers prefer to shop at some stores, and not at others. d. wages reflect workers' human capital.
If the Federal Reserve wants to increase the money supply, it should:
A. increase reserve requirements. B. conduct open-market purchases. C. increase the discount rate. D. increase the interest that it pays on reserves.
Refer to the information provided in Figure 25.1 below to answer the question(s) that follow.
Figure 25.1Refer to Figure 25.1. A movement from Point B to Point A can be caused by
A. a decrease in the interest rate. B. a decrease in nominal income. C. an increase in the interest rate. D. an increase in the price level.