The United Steel Workers Union is an example of
A) a craft union.
B) an auto union.
C) an industrial union.
D) a blue collar union.
Answer: C
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A characteristic of the long run that is not available in the short run is that a firm is free to vary its output
Indicate whether the statement is true or false
To maximize social welfare in the presence of a negative externality, marginal __________ must equal marginal __________
a. social cost; private cost b. private cost; social cost c. social cost; social benefit d. private cost; social benefit e. social cost; external cost
GDP provides substantial information about an economy's income distribution
a. True b. False Indicate whether the statement is true or false
Given that price is constant, the lower the marginal utility of a good as more of the good is consumed the:
A. fewer substitutes there are. B. more you are willing to buy of it. C. more substitutes there are. D. less you are willing to buy of it.