A closed shop exists when the
a. employer is only permitted to hire union members
b. union is the owner of the firm
c. union members are not allowed to be hired
d. employer can hire nonunion workers, but the workers must join the union within a certain time period
e. firm goes bankrupt and workers lose their jobs
A
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If the real wage rises
A) firms will hire less labor. B) firms will hire additional labor. C) the marginal cost of labor falls. D) the marginal benefit of the worker increases.
Which of the following can create a deadweight loss?
i. price supports ii. price floor iii. price ceiling A) i only B) i and iii C) ii and iii D) i, ii and iii E) i and ii
Bank holding companies that rival money center banks in size, but are not located in money center cities are
A) superregional banks. B) bank clearing houses. C) international banks. D) local banks.
When a business purchases a $50,000 computer system by writing a check, the business's balance sheet will:
A. show an increase in assets and liabilities for $50,000. B. not reflect any increase in assets or liabilities, only a change in the composition of assets. C. only show an increase in assets of $50,000. D. only show an increase in liabilities of $50,000.