Government-created price floors are typically imposed to
a. help consumers
b. help producers
c. raise tax revenue
d. shift the supply curve to the left
e. shift the demand curve to the right
B
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The Federal Reserve
From 1700-1780, the colonial population increased at a rate of approximately 3 percent per year. This rapid population growth was primarily due to
a. immigration from England. b. immigration from central Europe. c. higher birth rates in the colonies than in Europe. d. importation of slaves from Africa.
The Endangered Species Act
a. weakened the property rights of landowners. b. encourages landowners to find new ways to provide habitat for listed species. c. provides compensation to landowners affected by the law. d. has not benefited any of the species protected under the act.
The Occupational Safety and Health Administration (OSHA) has determined that the probability of a worker dying from exposure to a hazardous chemical used in the production of fertilizer is 0.008 . The cost of imposing a regulation that would ban the chemical is $32 million. If the value of a human life is equal to $10 million, how many people must the policy affect in order for the benefits to
exceed the costs? a. 256 b. 401 c. 3201 d. 4001