Unions often have the power to push wages above competitive levels
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
In using regression analysis to estimate demand, which of the following problems is most directly a result of insufficient data?
A) the identification problem B) the problem of a low R2 C) the problem of high standard errors D) the problem of insignificant F-statistics
The Nash equilibrium is
a. a pair of strategies, one for each player , in which player A's strategy is the best response while player B's is not b. a pair of strategies, one for each player , in which player B's strategy is the best response while player A's is not c. a pair of strategies, one for each player, in which each player's strategy is the best response to the other's d. a pair of strategies, one for each player, in which neither strategy is a best response
The index of leading economic indicators: a. provide accurate information on the duration of downturns in the economy
b. virtually always predicts downturns in the economy with a lead time of six months. c. can result in a self-fulfilling prophecy if business firms respond to leading economic indicator predictions. d. provide accurate information on the depth of downturns in the economy.
A local restaurant offers an "all you can eat" Sunday brunch for $12. Jenica eats two servings but leaves half of a third helping uneaten. Why?
A) Her marginal value of an additional bite of food has fallen to zero. B) Her marginal value of additional food has fallen below $4 ($12 divided by 3 servings). C) Her marginal value of brunch has fallen below $12. D) The total value she places on brunch today exactly equals $12.