Which statement is true?
A. Firms in service industries are less able to take strikes than those in manufacturing.
B. The president invokes the Taft-Hartley Act, on the average, about once every five years.
C. During the last 20 years there have been many more lockouts than strikes.
D. There has been less work time lost to strikes in the U.S. than in any other industrialized country.
A. Firms in service industries are less able to take strikes than those in manufacturing.
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The above figure illustrates a perfectly competitive firm. If the market price is $10 a unit, to maximize its profit (or minimize its loss) the firm should
A) shut down. B) produce between 10 and less than 30 units. C) produce 30 units. D) produce more than 30 units and less than 40 units. E) produce 40 units.
Marxists and leaders of communist economies actually often admire the market mechanism for its
a. efficiency in allocation of resources. b. fairness in distribution of output. c. maximization of net benefits for consumers. d. effectiveness in achieving high rates of growth.
If nominal GDP is $12,000 and the GDP deflator is 80, then real GDP is $15,000
a. True b. False Indicate whether the statement is true or false
The Obama administration believed that transfer payments to the unemployed would have a larger impact on aggregate demand than tax cuts
a. True b. False Indicate whether the statement is true or false