Discuss the benefits of unions
What will be an ideal response?
Some economists argue that unions probably raise social efficiency by increasing productivity. They also reduce wage inequality, reduce profits, and increase stability in the labor force by providing arbitration proceedings and grievance procedures. They also argue unions provide a political voice for union members, and that unions have effectively promoted general social legislation.
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Specialization is the result of:
A) hiring experienced workers. B) paying higher wages to experienced workers. C) workers developing a certain skill set. D) increased demand for a firm's commodity.
At a price of $4 per unit, Gadgets Inc. is willing to supply 20,000 gadgets, while United Gadgets is willing to supply 10,000 gadgets. If the price were to rise to $8 per unit, their respective quantities supplied would rise to 45,000 and 25,000. If these are the only two firms supplying gadgets, what is the elasticity of supply in the market for gadgets?
A. 1.2 B. 1.0 C. .833 D. .80
The required reserve ratio is the minimum percentage of ________ that banks are required to hold by regulation
A) reserves as total assets B) deposits as total assets C) reserves as deposits D) deposits as reserves E) reserves as total liabilities
Suppose the Fed makes a $5 million discount loan to a bank. Illustrate how this affects the balance sheets of the Fed and the banking system
What will be an ideal response?