A. by inclusive unions as an argument in bargaining for wage rate increases. B. to justify the application of minimum wages to low-wage labor markets. C. to explain the divergence between wage rates and marginal resource cost. D. to explain wage
rate differences based on differing nonmonetary aspects of jobs.
A. union workers are better educated and more productive than nonunion workers.
B. expenditures on education can be explained in essentially the same way as expenditures
on machinery and equipment.
C. worker productivity correlates negatively with annual earnings.
D. the level of education is unrelated to the level of one's income.
Answer: B
You might also like to view...
Crowding out is most likely to occur when the federal government
A. Runs a deficit and raises taxes to generate more revenue. B. Runs a surplus and pays off part of the debt. C. Has a balanced budget and refinances a portion of the debt that matures. D. Runs a deficit and sells bonds to make up the difference.
One basic problem faced by central planners, but hardly present in a market system, has to do with:
A. Determining the production goals or targets in a factory B. Having limited resources and trying to match them with unlimited wants C. Coordinating production in various industries so that bottlenecks do not develop D. Providing financial resources for increasing the real flows of products in the economy
Refer to the information provided in Table 14.6 below to answer the question that follows. Table 14.6B's Strategy ?AdvertiseDon't Advertise??A's profit $150 millionA's profit $400 million?AdvertiseB's profit $150 millionB's profit $100 millionA's Strategy????Don'tA's profit $100 millionA's profit $200 million?AdvertiseB's profit $400 millionB's profit $200 millionRefer to Table 14.6. What is the Nash equilibrium in the game?
A. (Advertise, Don't Advertise) B. (Don't Advertise, Advertise) C. (Don't Advertise, Don't Advertise) D. (Advertise, Advertise)
Consider the following statement, "The Federal Reserve fights recessions by increasing the money supply so people will have more money to spend." What is wrong with the statement and how can it be corrected?
What will be an ideal response?