The dominant school of thought prior to the 1930s was known as the:
a. Keynesian school.
b. classical school.
c. rational expectations school.
d. supply-side school.
e. monetarist school.
b
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If Utopia has a closed economy, the price of tile is $________ per case, and if it has an open economy the price of tile is $________ per case. 
A. 15; 10 B. 30; 15 C. 20; 15 D. 15; 20
Which of the following is TRUE regarding the labor market?
I. The labor supply curve slopes upward because firms maximize profits as they hire more workers. II. If the real wage rate falls, the quantity of labor firms demand increases. III. The demand for labor curve slopes downward because as the real wage rate falls, workers demand to work fewer hours. A) I and II B) I and III C) II only D) I, II and III
The first union to organize workers across skills, industries, and regions was the
a. Knights of Labor b. Knights of Columbus c. American Federation of Labor d. Congress of Industrial Organizations e. Taft-Hartley
The law of supply states that there is a positive relationship between price and quantity supplied, ceteris paribus.
Answer the following statement true (T) or false (F)