Which of the following is a reason why some firms do not use commission pay?
A) The best workers stay and less productive workers leave.
B) It is difficult to measure the output and attribute output to a particular worker.
C) It gives workers incentive to produce more.
D) It increases firm profits.
B
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Based on the table "Real and Nominal GDP," if year three is the base year, then the real GDP in year two is ________
A) 8250 B) 5900 C) 7500 D) 6775 E) none of the above
Answer the following statements true (T) or false (F)
1. Monopsony is a market condition in which there is only one seller. 2. A bilateral monopoly is a circumstance where only one seller and only one buyer exist in a market. 3. The market structures of perfect competition and monopoly are polar extremes. 4. A bilateral monopoly has a single buyer on one side of the market and a single seller on the other side. 5. In second degree price discrimination, each customer is charged a different price.
Featherbedding by unions is an attempt to
a. increase the demand for union labor b. increase the demand for non-union labor c. decrease the demand for union labor d. increase the supply of union labor e. increase the supply of non-union labor
For all intents and purposes, the Great Depression ended in
A. 1933. B. 1937. C. 1941. D. 1945.