Collective bargaining contracts between management and the union negotiators
A) also apply to the workers who are not members of the union.
B) usually are settled only after a strike.
C) cover wages only.
D) cover wages and fringe benefits only.
A
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The first mover in an extensive-form game should use ________ to win the game
A) forward induction B) backward induction C) pure strategies D) mixed strategies
Which economic question does the decision to produce butter instead of guns answer?
a. What to produce? b. How to produce? c. For whom to produce? d. Who has a comparative advantage in gun production? e. Who has an absolute advantage in butter production?
Pollution and other negative externalities arise because
a. there are no enforceable property rights to open-access resources b. legislators cannot agree on what to do about them c. they are the price consumers are willing to pay for production of goods and services d. private property rights to pollute are controlled by businesses e. science cannot decide how to control them
The total amount of output a country could reasonably produce if all of its people and capital resources were fully engaged is called:
A. full output. B. potential output. C. positive output gap. D. economic growth.