To be effective, OSHA rules must be exact , because flexibility will be used by employers to violate the beneficial effect of the rule
Indicate whether the statement is true or false
F Exact and inflexible rules were costly to some employers and they discouraged compliance, whereas flexible rules allowed employers to achieve beneficial results in a low-cost way.
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A reason why an increase in the price level decreases the quantity of real GDP demanded is that
A) the buying power of money increases. B) potential GDP decreases. C) the price of domestic goods and services increases relative to foreign goods and services. D) the real interest rate falls. E) the inflation rate decreases.
According to economic theory, a person
A) wants to advance his or her own interests and will try to do it rationally. B) would not generate negative externalities if one has a properly-developed social conscience. C) acts in a profit-seeking way in the market process and in a social-seeking way in government processes. D) necessarily behaves as an individualist in markets and as a socialist in government.
If you have private information that you are a safer driver than your record indicates, you are likely to buy an insurance policy with
A) a higher than average deductible. B) a positive but lower than average deductible. C) an average deductible. D) no deductible.
When private benefits equal social benefits, it means that:
A. positive externalities are not present in the market. B. positive externalities are present in the market. C. no externality of any kind is present in the market. D. negative externalities are present in the market.