A closed shop is a business enterprise in which
A) employees cannot belong to a union when they are employed, and cannot join a union and keep working there.
B) employees must join the union to maintain employment.
C) employees must belong to the union before they can be employed.
D) employees cannot belong to the union when they are hired, but may join the union later and keep their jobs.
C
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In the Alcoa case, the Supreme Court abandoned the per se rule and established the rule of reason
a. True b. False Indicate whether the statement is true or false
The largest sector in the consumer price index market basket is food and beverage purchases
a. True b. False Indicate whether the statement is true or false
Which of the following is an example of an efficiency wage?
a. a high wage paid to compensate for dangerous work such as coal mining b. an above-equilibrium wage offered by a firm to attract a more talented pool of job applicants c. a wage below the minimum wage but supplemented by customer tips d. a high wage paid to a college graduate for a high-skill job such as electrical engineering
Business inventories increase when firms produce:
A. More than they sell, and the inventory increase is added to GDP B. Less than they sell, and the inventory increase is added to GDP C. More than they sell, and the inventory increase is subtracted from GDP D. Less than they sell, and the inventory increase is subtracted from GDP