A right-to-work law is
A) a federal law making the closed shop illegal.
B) a federal law making the union shop illegal.
C) a state law making the union shop illegal.
D) a state law making the open shop illegal.
C
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An equilibrium in a game in which players pursue their own self-interest is called
A) a prisoner's dilemma. B) a Nash equilibrium. C) a noncooperative equilibrium. D) a cooperative equilibrium.
Fred and Barney fill egg cartons with eggs. Fred just started the job and can fill only 20 cartons an hour. Barney has significant on-the-job experience and can fill 40 cartons an hour. Both Fred and Barney work 40 hours a week. Fred's average weekly productivity is ________ cartons; Barney's average weekly productivity is ________ cartons; and as a team their average weekly productivity is ________ cartons.
A. 20; 40; 60 B. 800; 1,600; 1,200 C. 20; 40; 30 D. 800; 2,000; 1,600
The price at which a good or service is traded on international markets is called the ________ price.
A. universal B. international C. market D. world
A person has a comparative advantage in producing a particular good if that person
A) has higher productivity in producing it than anyone else has. B) can produce it at lower opportunity cost than anyone else can. C) has less desire to consume that good than anyone else has. D) has more human capital related to that good than anyone else has.