Other things equal, granting unemployment benefits or welfare benefits to striking workers
A) reduces the likelihood of a strike since management will be more cooperative.
B) reduces the costs of a strike to workers and will increase their willingness to strike.
C) reduces the likelihood of a strike since union workers make wages significantly above unemployment benefits or welfare payments.
D) increases the willingness of management to permit a strike.
B
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What is oligopoly? How does oligopoly differ from the other kinds of market structure?
What will be an ideal response?
Suppose you were competing in a sealed-bid, second-price auction for a Vermeer painting, which you happen to value at $100,000 . What bid should you submit?
a. Exactly $100,000 b. Somewhat lower than $100,000 depending on the number of other bidders c. Somewhat higher than $100,000 depending on the number of other bidders d. Cannot say which of a, b, or c is right without further information
In the United States, the largest expenditure component in GDP is
A) gross private domestic investment. B) government purchases of goods and services. C) consumption expenditures. D) net exports. E) none of the above
If two products are complements, the ________ elasticity of demand is ________.
A. income; negative B. cross-price; negative C. cross-price; positive D. income; positive