The purpose of a strike is
A) to obtain higher wages for union members only.
B) to solve jurisdictional disputes.
C) to obtain a closed shop.
D) to force management to accept the union's proposed contract terms.
Answer: D
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Pollution permit policies achieve an ________ outcome because ________.
A. efficient; firms that have the highest cost of reducing pollution will have the greatest incentive to purchase permits. B. efficient; firms that have the lowest cost of reducing pollution will be able to pay more for each permit. C. inefficient; wealthier firms can afford to purchase more permits. D. inefficient; the supply of permits is set by the government, and so is perfectly inelastic.
According to the BEA, in the second quarter of 2012 nominal GDP rose by 3.3 percent and real GDP rose by 1.7 percent. The difference between the change in nominal GDP and the change in real GDP could be explained by
A) an increase in prices of final goods and services produced. B) a decrease in prices of final goods and services produced. C) an increase in quantity of final goods and services produced. D) a decrease in quantity of final goods and services produced.
Refer to the Article Summary. All else equal, a depreciation of the Chinese yuan relative to a currency such as the U.S. dollar should ________ the current account balance in China and therefore ________ the financial account balance in China
A) increase; increase B) increase; decrease C) decrease; decrease D) decrease; increase
In the mathematical formulation of the short-run production function:
A) the quantity of output is usually assumed to be fixed. B) the quantity of capital employed is usually assumed to be fixed. C) the quantity of both labor and capital employed are usually assumed to be fixed. D) the quantity of both labor and capital must be allowed to vary so that output can vary in the short run.