Which is the most accurate statement?
A. Most strikes cause no economic disruption.
B. The job of a mediator is to impose a settlement.
C. Collective bargaining negotiations occasionally end with a strike.
D. The firm with the least ability to withstand a strike would be a manufacturing firm.
C. Collective bargaining negotiations occasionally end with a strike.
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Suppose that when the price of broccoli is $4 per pound, buyers wish to buy 500 pounds per day and sellers wish to sell 800 pounds per day. In this case:
A. excess supply will lead the price of broccoli to fall B. excess demand will lead the price of broccoli to fall C. excess demand will lead the price of broccoli to rise D. excess supply will lead the price of broccoli to rise
A large company is trying to decide which of two health insurance plans to offer its employees. Plan A has a high monthly premium and a low deductible, and Plan B has a low monthly premium and a high deductible
Adverse selection is likely to be a bigger problem with A) Plan B because it is likely to attract employees who expect high medical costs, and therefore prefer low deductibles. B) Plan A because it is likely to attract employees who expect high medical costs. Healthier employees who do not expect to have many medical bills will not be willing to pay the high premiums. C) Plan B because it is likely to attract healthy employees who do not expect to have many medical bills. Because the monthly premiums are low, the insurance company will have a larger financial burden to bear in the event of claims due to serious illness. D) Plan A because it is likely to attract employees who tend to overuse health care services due to the low deductible. Insurance companies are likely to pay out more in claims than they collect in premiums.
The idea underlying Adam Smith's "invisible hand" is that people tend to behave in ways that go unnoticed in society
Indicate whether the statement is true or false
A beneficial supply shock would cause the FE line to
A) shift to the right. B) shift to the left. C) remain unchanged. D) remain unchanged if the shock is temporary; shift to the right if the shock is permanent.