A business enterprise that allows the hiring of nonunion members conditional on their joining the union is
A. a union shop.
B. an industrial union.
C. a jurisdictional dispute.
D. a closed shop.
Answer: A
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Refer to Figure 5-4. What does S1 represent?
A) the market supply curve that reflects private cost B) the market supply curve that reflects only private benefit C) the market supply curve that reflects only external cost D) the market supply curve that reflects social cost
The largest spending category for state governments is
A) welfare. B) health care. C) education. D) highway construction.
Suppose that Norma is disappointed in the revenue her custom dress shop is bringing in. She is thinking of raising the price of each? dress, but she asks you for advice.
A. raise the price if demand is elastic. B. lower the price if the income elasticity of demand is positive. C. lower the price if the income elasticity of demand is negative. D. raise the price if demand is inelastic.
An unanticipated increase in the inflation rate will most likely:
A. have no effect on the real value of the national debt. B. increase the real value of the national debt. C. either increase or decrease the real value of the national debt, depending on the effect of inflation on capital gains and losses. D. transfer real wealth from bondholders to the government.