Explain how mandatory seat belt laws may reduce the negative externalities of risky behavior
What will be an ideal response?
Mandatory seat belt laws are designed to reduce the severity of injuries resulting from traffic accidents. By requiring all passengers in a vehicle to wear seat belts, the chances of serious injury are smaller, even when other drivers engage in risky behavior like speeding or reckless driving.
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If the exchange rate changes from $2.00 = £1 to $2.01 = £1 then
A) the dollar has appreciated. B) the British pound has depreciated. C) the dollar has depreciated. D) the British pound has stayed constant in value.
Gasoline prices in the United States decreased significantly between 2008 and 2009. A decrease in the price of gasoline, holding other things constant, will cause which of the following to occur?
A) increase the demand for gasoline. B) decrease the demand for gasoline. C) increase the quantity of gasoline demanded. D) decrease the quantity of gasoline demanded.