An industrial union is a union composed of workers in the same skilled profession
a. True
b. False
B
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Refer to Figure 17-6. Salespeople would be indifferent to the two pay schemes if their monthly sales were
A) less than 20 vacuum cleaners. B) between 20 and 30 vacuum cleaners. C) between 30 and 45 vacuum cleaners. D) more than 45 vacuum cleaners.
A major reason for creating the European Monetary System was to
A) create a single currency. B) unify banking laws and permit cross-border investment. C) avoid competitive devaluations. D) reduce the costs of changing currencies. E) eliminate the need for central banks.
Most economic data are obtained
A) through randomized controlled experiments. B) by calibration methods. C) through textbook examples typically involving ten observation points. D) by observing real-world behavior.
The less responsive consumers are to a change in the price of a product, _____
a. the more price-elastic is the supply curve b. the more income-inelastic is the demand curve c. the more price-inelastic is the demand curve d. the more income-elastic is the supply curve e. the more price-elastic is the demand curve