The type of labor agreement that requires workers to be union members prior to being considered for employment is a
A. right-to-work agreement.
B. open-shop agreement.
C. closed-shop agreement.
D. union shop agreement.
Answer: C
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Refer to Table 4-3. The table above lists the marginal cost of cowboy hats by The Waco Kid, a firm that specializes in producing western wear. If the price of cowboy hats decreases from $38 to $30
A) consumer surplus will rise by $6. B) the marginal cost of producing the third cowboy hat will fall to $30. C) producer surplus will rise from $8 to $24. D) producer surplus will fall from $22 to $6.
Anything that influences a good's price or the marginal physical product of labor will influence wages
a. True b. False Indicate whether the statement is true or false
Which of the following lists two things that both increase the money supply?
a. make open market purchases and raise the reserve requirement ratio b. make open market purchases and lower the reserve requirement ratio c. make open market sales and raise the reserve requirement ratio d. make open market sales and lower the reserve requirement ratio
If transactions costs are very high and auctions for pollution permits are not possible, which of the following is the most effective way to deal with pollution?
A. Require all polluters to limit their pollution to a certain level with regulation B. Allow the parties to negotiate C. Give subsidies to reduce pollution D. Tax pollution