In a labor negotiation, a mediator
a. represents the union rank-and-file members
b. represents the management side
c. is an impartial observer
d. can call a strike
e. can force both sides to agree to a contract
C
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Money is:
A. the sum of assets minus debts. B. the same as income. C. all financial assets. D. any asset used to make purchases.
What is the source of the gains from trade?
What will be an ideal response?
Increased specialization in the computer industry is evidenced by
(a) the types of government policies implemented to aid the computer industry. (b) the growth of the software industry. (c) the growth of the manufacturing industry. (d) the growth of agriculture.
The short-run equilibrium for a monopolistically competitive firm is at P = $28.47, ATC = $22.13, and MC = MR = $17.47 . Which of the following is true?
a. Per-unit profit is $11. b. Additional firms will be attracted into the industry. c. The firm could raise price and increase profits. d. The firm could lower price and increase profits. e. Average cost must be rising.