A labor union composed of workers in the same occupation is called
A) a craft union.
B) an industrial union.
C) a company union.
D) a closed shop.
Answer: A
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If the MPC = 0.75 and a household obtains $50,000 more dollars then how much would the household spend of the additional $50,000?
A. $50,000 B. $12,500 C. $37,500 D. $40,000
A car that is produced in 2018 is not sold until 2019. According to the definition of GDP, in which year's GDP should it be counted?
A) 2018 B) 2019 C) Half of the sales price will count as part of 2018 GDP and half will count as part of 2019 GDP. D) The production cost will count as part of 2018 GDP while the sales price will count as part of 2019 GDP.
Refer to the information provided in Figure 16.4 below to answer the question(s) that follow.Los Angeles International Airport (LAX) is located next to Playa Del Rey. The noise from air traffic negatively affects individuals living in Playa Del Rey, however, this cost is not considered by airlines or air travelers. The airlines feel they have a right to use the airspace while the individuals living in Playa Del Rey feel they have the right to quiet. The following diagram depicts the marginal costs and marginal benefits associated with air travel.
Figure 16.4Refer to Figure 16.4. Suppose the government assigns property rights to the airlines, then the
airlines and the residents engage in negotiations. The ________ of air travel is 100 units. A. resulting efficient level B. minimum allowable level C. government-regulated level D. maximum allowable level
In the long run, a reduction in productivity will cause
A. a decrease in the capital-labor ratio and an increase in consumption per worker. B. an increase in the capital-labor ratio and an increase in consumption per worker. C. an increase in the capital-labor ratio and a decrease in consumption per worker. D. a decrease in the capital-labor ratio and a decrease in consumption per worker.