A labor union is a(n)
a. single seller of labor on the labor market
b. single buyer of labor on the labor market
c. organization of workers who produce goods that are sold in union shops
d. organization of workers who typically strike to obtain high wage rates
e. organization of workers who refuse to work unless they are paid a wage rate above MRP
A
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According to your text, the so-called "Superbowl Effect"
A) is an example of a mere statistical correlation. B) is an example of correct cause-and-effect reasoning. C) is a sound discovery in economic theory. D) is based upon a false set of facts.
As part of the "wealth channel of monetary policy," a higher money supply __________ bond prices and thus __________ spending
A) raises; raises consumption B) raises; raises investment C) lowers; lowers consumption D) lowers; lowers investment
All of the following are part of an economic model except
A) data. B) opinions. C) assumptions. D) hypotheses.
Economic analysis requires both mathematical reasoning and historical study
a. True b. False Indicate whether the statement is true or false