If a union threatens to strike during a peak demand period, it is more likely to
a. Have its conditions accepted
b. Have its conditions rejected
c. Get laughed at
d. All of the above
a
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The broadest measure to adjust Nominal GDP for price changes is ________.
A. exchange rates B. the Consumer Price Index (CPI) C. the Producer Price Index (PPI) D. the GDP price index
A brand name may contribute to oligopolists' economic profit by
a. shifting the demand curve leftward b. shifting the supply curve leftward c. overcoming economies of scale d. acting as a barrier to entry e. reducing advertising costs
If the economy experiences a recessionary gap then:
a. aggregate expenditures exceed the level of spending necessary to provide for full employment. b. Keynesian economics would recommend a reduction in government spending or an increase in taxes. c. Keynesian economics would recommend an increase in government spending or a decrease in taxes. d. the equilibrium level of output and income is above full employment.
Ceteris paribus, if buyers expect the price of airline tickets to fall in the future, then right now there should be
A. A decrease in the supply of airline tickets. B. No change in the supply of or demand for airline tickets because the price is not changing right now. C. An increase in the demand for airline tickets. D. A decrease in the demand for airline tickets.