If national laws protecting the health and safety of workers completely eliminate any and all risk, then
A) more people would be employed.
B) workers in risky occupations become better off.
C) compensating differentials would grow because workers could not be compensated by being given lower risk jobs.
D) compensating wage differentials disappear and workers in risky occupations may be no better off.
D
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What is human capital?
A. Immigrant labor B. Someone who operates heavy equipment C. Your professor's knowledge of the economy D. A car assembly line robot
Refer to Table 4-3. The table above lists the marginal cost of cowboy hats by The Waco Kid, a firm that specializes in producing western wear. If the price of cowboy hats decreases from $38 to $30
A) consumer surplus will rise by $6. B) the marginal cost of producing the third cowboy hat will fall to $30. C) producer surplus will rise from $8 to $24. D) producer surplus will fall from $22 to $6.