Which statement is false?
A. The two basic ways that unions have of exerting power is inclusion and exclusion.
B. A smaller percentage of the labor force is members of unions today than 35 years ago.
C. Collective bargaining is the main arena of the power struggle between labor and management.
D. None of the statements are false.
D. None of the statements are false.
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Refer to the figure above. If the supply curve for flash drives shifts from S1 to S2, with no change in the demand curve, the new competitive equilibrium price is:
A) $3. B) $4. C) $5. D) $7.
Refer to the following figure. Which of the following production possibilities would result in the greatest rate of economic growth over time?
a. Point B
b. Point C
c. Point D
d. Point E
Binding price floors benefit sellers because they allow sellers to sell all the goods they want at a higher price
a. True b. False Indicate whether the statement is true or false
An article in the Wall Street Journal noted the following: Instead of relying on a full-coach, round-trip unrestricted fare of about $2,000 between Cleveland and Los Angeles ...Continental [Airlines] since June has offered a $716 unrestricted fare in
that market .... Through October, the test resulted in about the same revenue that Continental thinks it would have collected with its higher fare. Source: Scott McCartney, "Airlines Try Cutting Business Fares, Find They Don't Lose Revenue," Wall Street Journal, November 22, 2002. What is the absolute value of the price elasticity of demand on this airline route? A) 0 B) less than 1 C) greater than 1 D) approximately 1