Supposed you are hired to be a checker at a local grocery store. After ninety days of probation you become a member of the union. As a result you feel more secure about your job and work harder to be part of the team. This is a benefit of union
membership that
A) increases demand for union-made goods.
B) decreases the demand for nonunion-made goods.
C) increases worker productivity of union members.
D) increases union dues.
Answer: C
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An increase in the price of a substitute shifts the demand curve to the _______
a. right b. left c. it does not change the demand curve d. none of the above
Islamic economics promotes the organization of production through large partnerships
a. True b. False
Suppose that the demand in a particular industry is given by Qd = 500 ? 2P. When the market price in the industry is $50 per unit, total demand in the industry is ________. Furthermore, assume that the entire market consists of four firms that share the market equally. The HHI under these conditions is then ________.
A. 225 units; 3,333.33 B. 400 units; 2,500 C. 400 units; 10,000 D. 225 units; 1,600
Cyclical unemployment happens because
A. businesses make strategic errors. B. of the ups and downs of the business cycle. C. of government intervention. D. inflation rates vary.