A union's major source of power is its
a. high-profile leadership.
b. ability to increase productivity.
c. ability to threaten a strike.
d. ability to deny employers the opportunity to bargain over wages.
c
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Which of the following combinations of changes in government spending and taxes in necessarily expansionary?
A) Increase/Increase B) Increase/Decrease C) Decrease/No change D) Decrease/Increase E) Decrease/Decrease
If two goods are substitutes, a decrease in the price of one will result in an increase in demand for the other.
a. true b. false
In 1971, a bank worker could process 265 checks in 1 hour. Currently, computers with built-in reader-sorter processing capacity have pushed that number above 100,000 checks per hour. Economists describe this type of activity as
a. exploitation of labor. b. an increase in labor productivity. c. speed-up. d. comparative advantage. e. mutual gains from voluntary trade.
Oligopolistic firms never collude because they have almost no incentive to do so.
Answer the following statement true (T) or false (F)