Which piece of legislation allowed states to pass right-to-work laws?
A. Taft-Hartley Act
B. Landrum-Griffin Act
C. National Industrial Recovery Act
D. Wagner Act
Answer: A
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The towns of Mattoon and Charleston can produce one of two goods: books and bagels. In Charleston factories, 6 laborers can produce 100 books in an hour, while 12 laborers can produce 400 bagels in an hour.
(i) What is the cost of producing books in Charleston? (ii) Suppose the cost of producing books in Mattoon is 3 bagels per book. Which town should specialize in bagel production and which town should specialize in book production?
Suppose that X and Y are substitutes. If the price of Y increases, how will this change the market equilibrium for X? a. Equilibrium price and quantity both decline
b. Equilibrium price and quantity both rise. c. Equilibrium price declines, and equilibrium quantity rises. d. Equilibrium price rises, and equilibrium quantity falls.
Refer to Figure 31.2. What is the competitive level of wages and employment?
A. $11 per hour and 50 workers. B. $6 per hour and 40 workers. C. $7 per hour and 50 workers. D. $9 per hour and 40 workers.
All of the following count as unreported income except
A. International trade in cocaine. B. A waiter's tips that are not reported to the IRS. C. The $5 you pay your friend to help you study for a test. D. The money you pay a private tutor who works for Tutors Inc.