De minimis risk
a. is the goal required by law under President Reagan’s Executive Order 12291
b. is applicable only to voluntary risk
c. is a negligible level of risk such that reducing it further would not be cost justified
d. is identical to a zero-risk standard
c. is a negligible level of risk such that reducing it further would not be cost justified
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A permanent decrease in demand for convenience store services is likely to cause which of the following in the long run?
a. an economic loss for each firm b. a higher price for each firm's output c. fewer firms in the industry d. more firms in the industry e. economic profit for each firm
Which of the following is not one of the work disincentive criticisms of welfare programs?
A. Welfare provides income that is easier to obtain than by working, so poor are induced to reduce their work effort. B. Because welfare benefits are paid for with money collected from taxes and these taxes reduce take home pay for those working, the reward for work is reduced. C. Bureaucracy associated with welfare results in more money in the hands of bureaucrats than in the hands of the poor. D. The more a welfare recipient earns from a job, the fewer the benefits he or she receives.