In the labor negotiation game:
a. The payoffs from bargaining hard are only higher if your opponent accommodates
b. The payoffs from bargaining hard are only higher if your opponent bargains hard
c. The payoffs are always higher if you bargain hard
d. The payoffs are always higher if your opponent bargains hard
a
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The demand for labor is
A) derived from the demand for the final product of the firm. B) derived from the satisfaction that hiring labor provides the owner of the firm. C) derived from the satisfaction workers get for being employed. D) derived from a utility-maximizing process similar to that used to derive the demand curve for all workers in a given industry.
Studies show that the demand curve for peas has shifted. Which of the following explanations would you reject first?
a. The price of string beans has changed. b. The demand for corn has changed. c. The demand for string beans has changed. d. The income of consumers has changed. e. The price of peas has changed.
When domestic production causes pollution that imposes an external cost on the country, the country may export the wrong products because
A. the price of the product should be lower, which could lead to less production of the product. B. the price of the product should be lower, which could lead to no exports of the product. C. the price of the product should be higher, which could lead to no exports of the product. D. the price of the product should be higher, which could lead to more exports of the product.
If the average interval between firms' price adjustments is relatively short
A. a reduction in aggregate demand will cause a relatively long-lived reduction in real Gross Domestic Product (GDP). B. an increase in aggregate demand will cause a relatively long-lived increase in real Gross Domestic Product (GDP). C. an increase in aggregate demand will cause a relatively short-lived increase in real Gross Domestic Product (GDP). D. a reduction in aggregate demand will cause a relatively long-lived increase in real Gross Domestic Product (GDP).