When people become underemployed, they not only lose income immediately, but they may also have a permanent decrease in income even after regaining employment
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following is a good example of a firm that is not likely to be perfectly competitive?
a. Farmer Joe's wheat. b. Coyote Wile’s beef ranch. c. Captain John's salmon farm. d. Aviator Alan's nonstop airline service from Seattle to Nome.
According to the text, Israelis living on a kibbutz in Israel
a. leave the economic decisions to the economists on the kibbutz b. are adverse to profit-maximizing behavior c. shifted from manufacturing to farming in the 1960s d. behave according to the MC = MR rule e. act communally so do not let prices affect their decisions
Which of the following has been the largest organized group of U.S. unions during the past 50 years?
A) AFL-CIO B) AFL C) CIO D) Change to Win
Refer to Scenario 19-1. The value added of CANOES-R-US for each canoe equals
A) $1,200. B) $800. C) $500. D) $400.