In the United States, the rate of unionization is:
A. higher for sales workers than for transportation workers.
B. lower for managers than for teachers.
C. lower for production workers than for sales workers.
D. higher for social workers than for protective service workers.
Answer: B
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Expected profit and the real interest rate affect investment decisions
Indicate whether the statement is true or false
The above figure shows the market for steel ingots. If the market is competitive, and the government institutes a $100 specific tax on steel, then
A) less than the socially optimal quantity of steel is produced. B) the socially optimal quantity of steel of 50 units is produced. C) the socially optimal quantity of steel of 100 units is produced. D) more than the socially optimal quantity of steel is produced.
A market for a product for which demanders are willing to pay more than costs of production may not arise because of:
a. high transactions costs. b. strict price controls. c. the inability of producers to gain economies of scale. d. foreign countries dominating a domestic market for a product.
Rebecca consumes both iced tea and coffee. Iced tea is priced at $1.50 per bottle and coffee at $2.00 per 16-ounce cup. Which of the following marginal utility pairs is consistent with Rebecca's consumer equilibrium at these prices?
a. MU of iced tea = 1; MU of coffee = 1 b. MU of iced tea = 1; MU of coffee = 2 c. MU of iced tea = 2; MU of coffee = 3 d. MU of iced tea = 3; MU of coffee = 4