Albro Martin (1971) argues that the Interstate Commerce Commission (1887–1995) was captured by its customers, not the railroad industrialists
Other researchers like Gabriel Kolko (1965) highlight the involvement of railroad industrialists in capturing this government agency to serve a cartel role, too. Indicate whether the statement is true or false
True
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The primary purpose of labor unions is to
A. strike. B. give individuals greater bargaining power with employers. C. change our economic system. D. provide workers with political power.
Suppose your expenses for this term are as follows: tuition: $12,000, room and board: $6,500, books and other educational supplies: $1,500. Further, during the term, you can only work part-time and earn $3,500 instead of your full-time salary of $14,000
What is the opportunity cost of going to college this term, assuming that your room and board expenses would be the same even if you did not go to college? A) $13,500 B) $20,000 C) $24,000 D) $30,500
The real exchange rate is:
A. the best measurement we have to get a sense of whether purchasing power parity holds or not. B. a useful proximity of how far your dollars will go in another country. C. difficult to calculate because it relies on very different "typical" baskets of goods. D. All of these statements are true.
Define the following terms carefully: (a) Full employment (b) Purchasing power of money (c) Real wage rate (d) Relative price
What will be an ideal response?