Having the government regulate workplace safety would most likely improve economic efficiency if
A. workers value safe work environments.
B. workers are unable to correctly judge the risk associated with a particular job.
C. firms are unable to attract workers to safe jobs.
D. firms and workers differ on the value they place on safe versus risky jobs.
E. the cost of introducing safety equipment is high.
Answer: B
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Good A is a normal good. The demand curve for good A:
A) slopes downward. B) usually slopes downward, but could slope upward. C) slopes upward. D) usually slopes upward, but could slope downward.
Large in-kind benefits tend to increase the incentive to seek employment.
Answer the following statement true (T) or false (F)
According to Keynes, the consumption-income relationship is shown as C = a + bYD. Therefore, the saving-income relationship is
a. S = a + (1 ? b)YD. b. S = ? a + (1 ? b)YD. c. S = a + (1 ? b)/YD. d. S = ? a + (1? b)/YD.
Which of the following is true about stagflation?
A. It causes higher prices and lower unemployment. B. It can be corrected by increases in aggregate supply. C. It results in a lower value of the misery index. D. It can be corrected by demand-side policies.