How did the AFL feel about unskilled noncraft workers?
a. It was threatened by their low wages.
b. It felt sympathy for them.
c. It was unconcerned about them.
d. It hoped to make them new members.
e. It resented their high MRP.
C
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The difference between a Nash equilibrium and a subgame-perfect equilibrium is:
a. the former requires rational play both on and off the equilibrium path but the latter requires rational play only on the equilibrium path. b. the former requires rational play only on the equilibrium path but the latter requires rational play both on and off the equilibrium path. c. Nash equilibria are a subset of the subgame-perfect equilibria. d. nothing; they are synonyms.
When price is below the equilibrium level, there is a shortage of the commodity being sold
a. True b. False Indicate whether the statement is true or false
In a linear regression equation of the form Y = a + bX, the intercept parameter a shows
A. the amount that X changes when Y changes by one unit. B. the value of X when Y is zero. C. the amount that Y changes when X changes by one unit. D. the value of Y when X is zero.
Under a system of floating exchange rates, a shortage in a currency will lead to a(n)
A. long-term surplus of that currency. B. long-term shortage of that currency. C. depreciation of that currency. D. appreciation of that currency.