Which of the following laws made "closed shops" unlawful?
A. Taft-Hartley Act
B. National Industrial Recovery Act
C. Railway Workers Act
D. National Labor Relations Act
Answer: A
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Suppose that the profit maximizing level of output for the monopolist is 100 units, and ATC = $45.00; MC = $35.00; MR = $35.00; P = $50.00. What is the monopoly's profit?
A) -$1000 B) $4500 C) $5000 D) $500
An option buyer has limited loss potential (premium paid) and unlimited gain potential.
a. true b. false
One In the News article in the text titled "The Real March Madness: Ticket Prices " described how professional scalpers use the Internet to sell hard-to-get tickets to concerts and sporting events. Apparently the initial price of the tickets being scalped was too
A. Low for equilibrium, resulting in a surplus of tickets. B. High for equilibrium, resulting in a shortage of tickets. C. High for equilibrium, resulting in a surplus of tickets. D. Low for equilibrium, resulting in a shortage of tickets.
Which of the following statements would be true for an economy that can be characterized as being to the right of its LM curve?
A) There is excess supply of money. B) There is excess demand for money. C) There will be a tendency for the level of output to increase. D) There will be a tendency for the interest rate to decrease.