What percentage of American workers now belong to labor unions?
A. Less than 20 percent
B. About 40 percent
C. About 60 percent
D. More than 80 percent
Answer: A
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Which of the following would cause a decrease in the supply of peanut butter?
A) a decrease in the price of peanut butter B) an increase in the technology used to produce peanut butter C) a decrease in the price of jelly (assuming that peanut butter and jelly are complements) D) an increase the price of peanuts
Frictional unemployment is reduced by ________ in the number of weeks one is eligible for unemployment compensation, and ________ in the price of gasoline
A) an increase, an increase B) an increase, a decrease C) a decrease, an increase D) a decrease, a decrease
The major problem with running a functionally organized firm is
a. Measuring divisions' performance b. Tying pay to performance c. Ensuring that the functional divisions are working towards a common goal d. All of the above
Demand and marginal revenue curves are downward-sloping for monopolistically competitive firms because
A. product differentiation allows each firm some degree of monopoly power. B. there are a few large firms in the industry and they each act as a monopolist. C. mutual interdependence among all firms in the industry leads to collusion. D. each firm must take the market price as given.