The earliest unions in the United States were
A) industrial unions.
B) craft unions.
C) public-sector unions.
D) military unions.
B
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Which of the following are not included as a component of national income?
a. Corporate profits b. Compensation of employees c. Net interest income d. Capital gains and capital losses
Assuming that the demand and supply of a good have moved in the same direction, and by the same amount, the new equilibrium would represent: a. an increase in price and an increase in quantity exchanged
b. no change in price and an increase in quantity exchanged. c. a decrease in price and a decrease in quantity exchanged. d. no change in price, and an indeterminate change in quantity exchanged.
Which of the following is the definition of wealth?
a. Real disposable income b. The total value of assets c. Real income d. The value of liabilities minus the value of assets e. The value of assets minus the value of outstanding liabilities
Given that Sandy can produce 10 economics reports or 2 sales calls and Tim can produce 2 economics reports or 1 sales call, which of the following is FALSE?
A) Sandy has a comparative advantage in sales calls. B) Tim has a comparative advantage in sales calls. C) Sandy has a comparative advantage in economics reports. D) Sandy has an absolute advantage in both economics reports and sales calls.