Price ceilings generally do not lead to which of the following?
A. Persistent shortages
B. A reduction in the quality of the good
C. An increase in the number of units purchased
D. The development of black markets
Answer: C
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The labor force equals the number of people
A) in the working-age population. B) employed. C) unemployed. D) employed plus unemployed.
An In the News article titled "Caterpillar vs. the IAM" describes collective bargaining as
A. Direct negotiations between employers and labor unions. B. Government intervention to end a strike. C. Negotiations between workers and labor union organizers. D. The competition between labor unions for workers.
Despite India being on the World Bank's list of low-income countries, its capital city, Mumbai, is one of the top ten centers of commerce in the world.
Answer the following statement true (T) or false (F)
Figure 15.3 depicts a one-mile stretch of beach with 100 swimmers distributed evenly along the beach. There are two ice cream vendors - 1 and 2 - on the beach selling an identical product. Assume that each swimmer buys only one ice cream cone and that they prefer to buy ice cream from the nearer vendor. If vendor 1 is at B while vendor 2 is at D, vendor 1 has an incentive to move:
A. to the left of its current location. B. toward the median location. C. to the right of vendor 2's location. D. None of these