Can unions increase productivity? Explain
What will be an ideal response?
Unions can increase productivity, but they can also decrease productivity. Featherbedding is a practice that reduces labor productivity. However, if unions create greater job satisfaction or reduce labor turnover, it is possible that productivity will be increased.
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Which of the following statements about the short-run production function is true?
A) MP always equals AP at the maximum point of MP. B) MP always equals zero when TP is at its maximum point. C) TP starts to decline at the point of diminishing returns. D) When MP diminishes, AP is at its minimum point. E) None of the above is true.
The Keynesian region of the aggregate supply curve is:
a. horizontal. b. downward-sloping. c. upward-sloping. d. vertical. e. a 45-degree line.
Why is cable TV reception regarded as a club good?
A minimum wage law is a:
A. quantity restriction. B. customary norm without legal structure or protection. C. price ceiling. D. price floor.