What is the purpose of a strike? What are the costs to workers and to management?
What will be an ideal response?
The purpose of a strike is to impose costs on management to force them to accept the union's proposed contract terms. The strike disrupts the firm's production schedule and may cost the firm sales and profits. The strike costs the workers in that they do not get paid during the strike.
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The rate of unemployment is found by
A) dividing the number unemployed by the number of people in the labor force. B) dividing the number employed by the number of people in the labor force. C) dividing the number unemployed by the number employed. D) dividing the number employed by the number unemployed.
Explain why the long-run average cost is typically U-shaped
When economists make
a. positive statements, they are speaking not as policy advisers but as scientists. b. positive statements, they are speaking not as scientists but as forecasters. c. normative statements, they are speaking not as policy advisers but as scientists. d. normative statements, they are speaking not as policy advisers but as model-builders.
If the unemployment rate increases from 10% to 14%, the economy will
A. move away from the ppf toward the origin. B. remain on the ppf. C. remain on the origin. D. move closer to a point on the ppf.