A company can hire non-union workers, but a condition of their employment is that they must join the union within their first 90 days on the job. This is an example of a
A. closed-shop.
B. union shop.
C. voluntary craft union.
D. right-to-work law.
Answer: B
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Which of the following factors of production is least likely to show diminishing marginal product?
A) Capital B) Labor C) Technology D) Land
Refer to Figure 11-2. The curve labeled "F" is
A) the output supply curve. B) the total product curve. C) the marginal product curve. D) the average product curve.
If a single banks faces a required reserve ratio of 20 percent, has total reserves of $500,000 . and checkable deposit liabilities of $400,000 . what is the maximum amount of money this bank could create (add to the money supply)?
a. $420,000 b. $100,000. c. $80,000 d. $2,100,000.
One objection to supply-side tax cuts is that demand-side changes
a. are smaller than supply-side changes. b. and supply-side changes are about equal. c. are more unpredictable than supply-side changes. d. are larger than supply-side changes.