When workers\' indifference curves are drawn for wage rates versus injury risk t

Question

When workers' indifference curves are drawn for wage rates versus injury risk the indifference curves slope downwards because a higher wage is required to accept a higher risk of injury. the indifference curves slope upwards because a higher wage is required to accept a higher risk of injury. utility increases as a worker moves to the right along an indifference curve. utility decreases as a worker moves to the right along an indifference curve. If a firm reduces the risk in its workplace, then the firm will be able to pay higher wages. the firm will be able to increase profits. the firm will pay lower wages to make up for the cost of increased safety. the firm will see a decrease in total costs. The psychic costs of college are usually lowest for students with relatively high ability. students from poor backgrounds. students with average or low ability. students who are at the margin in terms of attending college or not. Increased grants and loans for college expenses would the number of college graduates, while wages paid to college graduates. increase, increasing decrease, decreasing increase, decreasing decrease, increasing The human capital theory of migration compares the costs of a move to the sum of increased utility levels from each year on the new job. the sum of the utility levels from each year on the new job. the discounted sum of increased utility levels from each year on the new job. the discounted sum of utility levels from each year on the new job. An increase in the discount rate would make a worker more likely to change jobs. less likely to change jobs. exactly as likely as before to change jobs. either more or less likely to change jobs.

Explanation / Answer

5. B) Risk and returns are directly related. To face high risks, wages have to be high.

6. c)

7. D) A psychic cost is a part of social costs that specifically represent the costs of added stress or losses to quality of life. It easure the stress of having to think about a transaction.

8. c) Increasing, Decrease. The money for grants come from tax revenue which cuts income

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