A right-to-work state is one in which
A. there is guaranteed employment for all citizens.
B. the union shop is prohibited.
C. the closed shop is permitted.
D. unions are illegal.
Answer: B
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The capture theory holds that regulations are supplied to maximize ________
A) total sales B) economic profit C) marginal product D) consumer surplus
The employment ratio is the ________
A) labor force divided by the population B) proportion of the civilian working-age population that is employed C) number of individuals employed divided by the size of the labor force D) number of individuals employed divided by the number of the unemployed
The oversimplified formula for the multiplier yields a number that is too large due to the exclusion of
a. variable imports. b. changes in the price-level. c. income taxes. d. All of the above.
A point on a demand curve indicates:
a. A combination of two consumer goods which buyers will choose at given prices b. A particular price and the corresponding quantity demanded by consumers c. The ratio of the selling price to the buying price d. A situation where the buying and selling decisions of consumers and producers are consistent