Right-to-work laws
a. guarantee workers the right to form unions.
b. give workers in a unionized firm the right to choose whether to join the union.
c. prevent employers from hiring permanent replacements for workers who are on strike.
d. prevent workers from being fired because of increases in wages brought about by collective bargaining.
b
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Refer to the scenario above. If Aqua Inc charges a price of $20 for each unit of Good A while Blu Corp . charges a price of $60, Blu Corp . will ________
A) face the entire market demand B) lose all its customers to Aqua Inc. C) face a demand of 2,000 units D) face a demand of 1,500 units
The GDP deflator in year 2 is 105, using year 1 as the base year. This means that, on average, the cost of goods and services is
A) 5% higher in year 2 than in year 1. B) 105% higher in year 1 than in year 2. C) 105% higher in year 2 than in year 1. D) 5% higher in year 1 than in year 2.
Costs not associated with a specific activity are
a. variable costs b. semivariable costs c. fixed costs d. indirect costs e. hidden costs
A vertical merger involves a combining of one or more firms:
A. as the result of one firm purchasing the assets of the other. B. that are operating in entirely different industries. C. operating at different stages of the production process in a particular industry. D. operating at the same stage of the production process.