Research indicates that on average, state government unions have
A) raised wages to 20 percent above nonunionized government workers.
B) raised wages 25 to 30 percent above nonunionized private-sector and government workers.
C) raised wages about 100 percent above similar workers in the nonunion private sector.
D) have not significantly raised wages above similar workers in the nonunion sector.
A
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For the federal deficit to be lowered,
A) the federal government must decrease its spending and increase net exports. B) the federal government's expenditures must be lower than its tax revenue. C) the Federal Reserve must reduce the money supply. D) the Federal Reserve must raise interest rates and lower the required reserve ratio.
Perfect price discrimination means:
A. charging each consumer a price exactly equal to his or her willingness to pay. B. charging the exact same price to each consumer regardless of his or her willingness to pay. C. charging different prices to different consumers so as to maximize consumer surplus. D. charging each consumer a price exactly equal to the marginal cost of selling the good to that consumer.
Which of the following is false?
a. A true or pure monopoly exists where there is only one seller of a product for which no close substitute is available. b. The situation in which one large firm can provide the output of the market at a lower cost than two or more smaller firms is called a natural monopoly. c. In monopoly, the market demand curve may be regarded as the demand curve for the firm because it is the market for that particular product. d. A monopoly firm is a price maker, and it will pick a price that is the highest point on its demand curve.
Because almost all economists oppose policies that restrict trade among nations, policymakers do not restrict imports of certain goods
a. True b. False Indicate whether the statement is true or false