Collective bargaining refers to
A) negotiations between workers and health officials.
B) negotiations between management of a company and a labor union.
C) farming methods in Marxist states.
D) the process of electing union leaders.
Answer: B
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Which region of the world experienced a decade-long crisis and stagnant or even negative growth rates during the 1980s?
A) Latin America B) East Asia C) The United States and Canada D) Europe E) The European Union
Which of the following products would most closely fit the competitive price-taker model?
a. stereo systems-there are many reputable brands. b. beer-it has many consumers. c. eggs-there are many producers of this relatively homogeneous product. d. automobiles-there are substantial economies of scale in production.
Figure 11-7
The firm in Figure 11-7 is an unregulated monopolist; it will produce which of the following?
a.
175 units at a price of 7
b.
100 units at a price of 6
c.
100 units at a price of 9
d.
150 units at a price of about 7.5
Refer to the diagram. Which one of the following might shift the marginal cost curve from MC 1 to MC 2?
A. Major new studies strongly linking cancer to pollution.
B. Improved technology for reducing pollution.
C. A change in consumer tastes from services to manufactured goods.
D. An increase in the price of recycled goods.