Featherbedding allows unions to increase wages by:
a. limiting the supply of labor.
b. increasing firms' demand for labor.
c. forcing firms to accept higher-than-equilibrium wages.
d. reducing labor share of payroll taxes.
b
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An increase in the price of poultry would lead to
A. a decrease in quantity demanded of fish and an increase in the demand for poultry. B. a decrease in quantity demanded of poultry and an increase in the demand for fish. C. an increase in quantity demanded of fish and a decrease in the demand for poultry. D. an increase in quantity demanded of poultry and a decrease in the demand for fish.
If a firm spends money on advertising, its gross profit is ________ its net profit.
A) greater than B) exactly twice C) equal to D) less than
The GDP of a country can be derived by summing
a. the expenditures on final user goods and services produced domestically during the year. b. the payments to employees and owners of capital resources and then subtracting depreciation and indirect business taxes. c. the market value of all goods and services produced domestically during the period and then subtracting net exports from that figure. d. the income payments to the resource suppliers and net exports.
During a period of high inflation:
A. borrowers are better off because they can pay off their loans with currency that is worth less. B. borrowers are worse off because they have to pay off their loans with currency that is worth more. C. lenders are worse off because they cannot find anyone who wants a loan. D. lenders are worse off because they are repaid with currency that is worth more. E. none of the above.