The principle of exclusion works well in organizing _______ unions, while the principle of inclusion works well in organizing _______ unions.
Fill in the blank(s) with the appropriate word(s).
craft; industrial
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A PPF, such as the one above, that bows outward illustrates
A) decreasing opportunity cost. B) increasing opportunity cost. C) that technology is improving. D) that productivity is falling.
Inflation affects borrowers and lenders differently. After signing a contract with a fixed nominal interest rate, it can be expected that
A. borrowers will hope that prices fall. B. lenders will hope that prices rise. C. lenders will hope that the purchasing power of money will fall. D. borrowers will hope that prices rise.
Suppose Belgium produces only two goods, chocolate and lace. If Belgium has a comparative advantage in lace, a move toward free trade will:
A. benefit chocolate workers, harm lace workers in the short run, but benefit the nation as a whole. B. harm chocolate workers in the short run, benefit lace workers, but benefit the nation as a whole. C. harm chocolate workers in the short run, harm lace workers, but benefit the nation as a whole. D. benefit chocolate workers, harm lace workers in the short run, but harm the nation as a whole.
A person's productive contribution in a capitalist society is measured by determining the
A. market value of the individual's output. B. index of occupational values. C. comparable output of other workers in similar jobs. D. total number of goods produced by the individual.