The United Farm Workers have been unsuccessful for decades in their attempts to organize California's strawberry pickers because the workers
A. Know that replacement workers are readily available.
B. Don't understand English.
C. Don't care about earning higher wages.
D. Are members of a union shop.
Answer: A
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The table above has information about an economy. Using this information, GDP equals
A) $6,500 billion. B) $7,800 billion. C) $7,000 billion. D) $8,500 billion. E) some amount that cannot be calculated without information on the amount of government expenditures.
According to purchasing-power parity, inflation in the U.S. causes the dollar to
a. depreciate relative to all other currencies. b. depreciate relative to currencies of countries that have lower inflation rates. c. appreciate relative to all other countries. d. appreciate relative to currencies of countries that have lower inflation rates.
A firm will find it profitable to hire workers up to the point at which their:
A. marginal resource cost equals their wage rate. B. wage rate equals product price. C. MP is equal to their MRP. D. marginal resource cost is equal to their MRP.
“The economic cost of unemployment is measured by the GDP gap.” Explain this statement.
What will be an ideal response?