Unions can ration the excess supply of labor generated by the establishment of a wage that is above the competitive wage by
A) lengthening the time period for apprenticeship programs.
B) lowering union dues.
C) encouraging older workers to take early retirement.
D) having more intensive membership drives to ensure a larger proportion of workers are covered by the union contract.
Answer: A
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A benefit-based standard
a. is one that balances social benefits with social costs, at the margin b. achieves allocative efficiency c. achieves a cost-effective level of pollution abatement d. is set to improve society’s well-being without consideration for costs
A production possibilities frontier figure does NOT illustrate
A) the limits on production imposed by our limited resources and technology. B) the exchange of one good or service for another. C) opportunity cost. D) attainable and unattainable points.
? In Figure 5-13, the consumer can afford any combination of X and Y represented by a point
A. on line AB only. B. on or below line AB. C. on or above line AB. D. anywhere on the graph.
Describe how Mexico's development strategy changed from the 1950s to today and how that changed the production location decisions of firms
What will be an ideal response?