Which factor has most affected the ability and the willingness of union members to strike in the last decade?
A. The rising number of people working for the government.
B. The possibility of hiring permanent replacement workers in the U.S. or overseas.
C. The rising cost of living, which has lowered the purchasing power of strike benefits.
D. High unemployment, which makes it more difficult for strikers to find temporary jobs.
B. The possibility of hiring permanent replacement workers in the U.S. or overseas.
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The table above lists six points on the production possibilities frontier for grain and cars. From this information you can conclude that production is inefficient if this economy produces
A) 6 tons of grain and 18 cars. B) 4 tons of grain and 26 cars. C) 2 tons of grain and 27 cars. D) 8 tons of grain and 10 cars.
All of the following are reasons that health care costs have risen so much in the past few decades EXCEPT
A) the aging population. B) higher imports. C) new technologies. D) third party payments.
The long-run aggregate supply curve (LRAS) is represented by a ________ curve with respect to the CPI
a. horizontal b. upward-sloping c. downward-sloping d. vertical
Which statement is true?
A. There are many firms in a monopolistically competitive industry. B. Monopolistic competitors produce an identical product. C. In order for product differentiation to take place, there must be clear physical differences among the products sold. D. None of these statements are true.