In the late 1800s, the Goodyear welt process vastly increased productivity in the ______ industry
a. steel
b. boot and shoe
c. tire
d. cotton textiles
b. boot and shoe
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A single-price monopolist
a. has absolute control over price. b. can sell all it desires at a given price. c. must lower price in order to sell more. d. always has an elastic demand.
Risk-seeking behavior:
A. is irrational. B. is an aspect of an individual's preferences. C. is the same for everyone. D. All of these statements are true.
An individual's wealth constraint is determined by
a. the individual's level of education b. the facts that wealth is given and so she must give up one kind of wealth in order to acquire another c. overall conditions in the economy d. the amount of wealth the individual chooses to hold in the form of money e. the value of corporate stock
The current percentage of the government workers represented by unions is approximately
A. 15%. B. 25%. C. 35%. D. 5%.