Figure 20-4
In Figure 20-4, which panel depicts a union suffering unemployment during a recession rather than allowing the wage to fall?
A. 1
B. 2
C. 3
D. 4
Answer: B
You might also like to view...
According to the principle of increasing costs, as the production of one good expands, the opportunity cost of producing another unit of the good tends to increase.
Answer the following statement true (T) or false (F)
Refer to Table 13-3. What is the best course of action for the firm in the short run?
A) It should not cut its price but it should increase its sales by advertising. B) It should stay in business because it covers some of its fixed cost. C) It should shut down. D) It should increase its sales by lowering its price.
A credit market instrument that provides the borrower with an amount of funds that must be repaid at the maturity date along with an interest payment is known as a
A) simple loan. B) fixed-payment loan. C) coupon bond. D) discount bond.
The concept of economies of scale becomes especially _____________ to international trade when it enables one or two large producers to supply the entire country.
a. problematic b. unrelated c. relevant d. unproductive