Laws that make it illegal to require union membership as a condition of continuing employment in a firm are
A) union shop laws.
B) right-to-work laws.
C) closed-shop laws.
D) jurisdictional laws.
Answer: B
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If three pizza delivery companies agree that one company will service only the rural areas of a state, one only suburban areas, and the one only the urban areas, this is an example of ________.
A) price fixing B) market division C) bid rigging D) monopolization
In a constant cost industry,
a. a natural monopoly is likely to occur. b. total cost is the same, no matter how much a firm produces. c. the long-run supply curve will be perfectly elastic. d. entry of new firms in the industry will lead to a reduction in the cost of inputs.
Economists tend to view taxing polluting activities as an attempt to
What will be an ideal response?
If the tax multiplier is -1.5 and a $200 billion tax increase is implemented, what is the change in GDP, holding everything else constant? (Assume the price level stays constant.)
A) a $133.33 billion increase in GDP B) a $133.33 billion decrease in GDP C) a $30 billion increase in GDP D) a $300 billion decrease in GDP E) a $300 billion increase in GDP