In addition to higher wages, early labor unions negotiated with business owners for ______.
a. shorter hours and workweeks
b. increased mandatory overtime
c. benefits for unmarried partners
d. paid vacation time
a. shorter hours and workweeks
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Suppose a monopolist offers a $20 mail-in rebate on an item with a list price of $100. In order for the rebate to be a perfect hurdle, it must be the case that:
A. buyers use the rebate if and only if their cost of filling out the rebate is less than $20. B. all buyers with a reservation price greater than $80 use the rebate. C. some buyers with a reservation price greater than $80 use the rebate. D. buyers use the rebate if and only if they have a reservation price between $80 and $100.
A subway token does not fulfill the three functions of money
Indicate whether the statement is true or false
Which of the following adjustments will most likely occur when output exceeds the economy's long-run capacity?
a. Prices will decline, bringing actual output into balance with its potential. b. The natural rate of unemployment will increase and, thereby, restore equilibrium. c. Higher resource prices and costs will reduce short-run aggregate supply until output falls to the economy's long-run capacity. d. Lower interest rates will increase the economy's long-run capacity and restore equilibrium.
Government borrowing:
A. is the primary means of financing public expenditures. B. provides a stimulus to government spending with no opportunity cost. C. may crowd out private sector investment. D. is prohibited by the U.S. constitution.