The American Federation of Labor (AFL) was created
a. as an organization of highly autonomous craft unions
b. to protect the growing number of economically powerless workers
c. to promote the creation of industrial unions
d. to give broad representation to workers with very different skills and occupations
e. to represent less-skilled industrial workers
A
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When World War II (1941–45) came,
(a) the labor force expanded by very little despite the high unemployment of 1941. (b) unemployment was still high enough that the armed forces could be expanded and war production expanded without a large increase in the labor force. (c) a large increase in the labor force occurred in all categories, including men over 65 and women. (d) none of the above occurred.
Which of the following is not assumed constant along the U.S. demand curve for foreign exchange?
a. the exchange rate b. U.S. interest rates c. expected U.S. inflation d. expected foreign inflation e. increase in U.S. income
Scarcity exists when:
A) a choice must be made among two or more alternatives. B) we face the notion of "all other things unchanged." C) countries and people find themselves facing poverty. D) the notions of normative economics come into play.
The buyer of a good has less information than the seller of the good. This is a case of
A. externality information. B. free ridership. C. asymmetric information. D. biased information. E. a public good not being a private good.