Economic models
A. are always based on realistic assumptions.
B. usually predict perfectly.
C. can never be tested with real-world data.
D. are used to describe cause-and-effect relationships.
E. are too simple to be of much use.
Answer: D
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Labor unions cause unemployment because the union contract wage is set
A) below the market wage, causing a shortage of labor. B) above the market wage, causing a surplus of labor. C) above the market wage, causing a shortage of labor. D) below the market wage, causing a surplus of labor.
Global warming is an externality
Indicate whether the statement is true or false
Why is land reform of significant concern for developing countries and what restricts its implementation?
What will be an ideal response?
The M-Form of corporate organization
a. organizes employees along the functions or tasks that they perform b. organizes employees along the customer types that they serve c. organizes employees along individual projects that arise d. organizes employees into softball teams