A labor union is an organization representing workers in negotiations with employers over wages, benefits, and working conditions
a. True
b. False
Indicate whether the statement is true or false
True
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Full-employment output is the level of output that firms in the economy supply when
A) taxes are zero. B) wages and prices have fully adjusted. C) the unemployment rate is zero. D) all capital is fully utilized.
When the choice variable is a continuous variable, the decision rule for an unconstrained maximization problem is:
A. If MB < MC, decrease the activity. B. Choose the activity so that MB = MC. C. If MB > MC, increase the activity. D. all of the above E. none of the above
The exchange rate increases when there is a decrease in the demand for bonds.
a. true b. false
Recall the Application about the shutdown price for coal to answer the following question(s).Recall the Application. Because the higher cost of keeping workers safe was the reason why 4 West Mine was shut down, then those costs are considered a part of:
A. variable costs. B. fixed costs. C. total revenues. D. marginal revenues.