Leaders that give the group total freedom
a. autocratic
b. laissez-faire
c. democratic
d. trait
Ans: b. laissez-faire
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In a competitive market, if buyers did not know all the prices charged by the many firms,
A) all firms still face horizontal demand curves. B) firms sell a differentiated product. C) demand curves can be downward sloping for some or all firms. D) the number of firms will most likely decrease.
Refer to the figure shown, which represents the production possibilities frontiers for Countries A and B. The slope of Country A's production possibilities frontier:
A. measures the opportunity cost of trucks in terms of cars.
B. measures the trade-off that Country A face when deciding how to allocate resources.
C. is constant because the opportunity cost remains constant.
D. All of these statements are true.
Which of the following correctly describes the trend in U.S. union membership?
A. Union membership peaked in the 1960s and has been decreasing steadily since. B. Union membership has been decreasing steadily since the 1930s. C. Union membership declined until the 1980s, but has been increasing steadily since. D. Union membership decreased from 1930 - 1960, but has been increasing steadily since.
Karl Marx believed that inevitably there would be a clash between ____________ and _____________, leading to an overthrow of capitalism.
Fill in the blank(s) with the appropriate word(s).