That light doesn't just flash. It flashes the airbag fault code.
It flashes X times, than wait 1 seconds, and flashes Y times. Wait 3 seconds, and start it again. It means the fault code is XY.
You have to check all connectors, and wires. If there is something wrong, you have to repair it. Clear the fault code with a Ford Rotunda SuperStar-II or equivalent. (Or disconnect the battery for 15 minutes)
In my '92 Sable (after the engine change) there were the fault code: 45 which means "Center Radiator Crash Sensor - Not Mounted to Vehicle Properly"
After reading it, i found the center radiator crash sensor in a shelf near from the car. We forgot to replace it. After replacing it, and cleared the fault code with a SnapOn MTG2500, there wasn't any more flashing.
Problem with the SRS. Not a DIY repair. Take it to a professional.
it means it needs service check owners manual
it could be the clock spring in the stering wheel colum
A problem with the system and depending on what type of problem depends on wether or not they wiil function properly
The airbag light would have nothing to do with emissions. If they are doing a safety inspection, it would fail.
$1000
You have a problem with the SRS. This is not a DIY repair. Take it to a professional. Serious injury can occur when working with the system.
You would have to take it to a Ford dealership so they could diagnose why the airbag light is on. It is not something that you would want to do yourself.
The airbag light stays on when the computer detects a malfunction and sets a code.
There is not much chance that your airbag would malfunction and just deploy, but if the airbag light is on there is a 100% chance that it will not operate properly in the event of an accident. You need to have the car inspected at a dealer or certified repair shop if the airbag light is on and remains on.
There is a "clockspring" in the steering column that is probably broken. When the clockspring breaks, the airbag light comes on. The "clockspring" takes the place of the old slip rings and spring loaded contacts used in older cars and is used to transfer circuits from the steering wheel to the stationary column making the airbag, horn and speed control operational. To replace involves removing the airbag. Take it to the dealer.
The airbag light stays on when the airbag computer detects a malfunction and sets a code. You need to have the system checked for codes to know possible causes.