List the main employment characteristics over which a labor union negotiates for its workers
higher wages, better benefits, better working conditions
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Attractive industries have all the following, except
a. High supplier power b. Low buyer power c. High entry barriers d. Low rivalry
Assuming that the demand for a good has decreased and the supply of a good has increased by the same amount, then:
a. The change in price is determinate but the change in quantity is indeterminate. b. The change in quantity is determinate but the change in price is indeterminate. c. Neither the change in price nor the change in quantity will be indeterminate. d. Both the change in price and the change in quantity will be indeterminate.
Figure 33.2 illustrates Lorenz curves for four different economies. For which economy would lower-income families receive the largest share of total income?
A. A. B. B. C. C. D. D.
When the absolute value of the price elasticity of demand falls in the range of 0 and 1, demand is said to be ________ , when it equals 1, demand is said to be ________ , and when the price elasticity of demand is greater than 1, demand is said to be ________
a. elastic, unitary elastic, inelastic b. inelastic, unitary elastic, elastic c. unitary elastic, elastic, inelastic d. inelastic, elastic, unitary elastic