Collective bargaining
A. is illegal in the U.S.
B. is solely a test of power.
C. takes place only after a strike is settled.
D. is the main arena in the power struggle between labor and management.
D. is the main arena in the power struggle between labor and management.
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Profits account for about 30 cents out of each dollar spent on goods in the United States.
Answer the following statement true (T) or false (F)
If the demand for dog grooming increases so that the price of dog grooming rises, then number of workers hired by Doug's Dog Grooming would
A) decrease. B) increase. C) remain unchanged. D) Any of the above answers are possible.
A country's long-run aggregate supply curve will shift to the left when there is (are)
A) fewer regulatory impediments to business. B) a discovery of new oil reserves in that country. C) a reduction in the labor force. D) a reduction in the money supply.
Which of the following is NOT a characteristic of a monopoly?
A. There is only one seller. B. A monopolist is a price-taker. C. There exist barriers to entry. D. A monopolist's sales revenue is constrained by the market demand.