Pete is a non-union employee at The Electric Co The majority of the employees at The Electric Co are unionized. The union at The Electric Co has negotiated very good benefits. Even though he is not a union member and he does not have to pay union dues, Pete receives all the benefits that the union has negotiated. Pete's behavior is an example of
a. rivalry.
b. a barrier to entry.
c. free riding.
d. Taft-Hartley opposition.
c
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Identify the correct statement about changes in money supply.
a. A decrease in money supply causes interest rates to fall b. A decrease in money supply causes investment spending to increase. c. A decrease in money supply causes gross domestic product to increase. d. A decrease in money supply causes investment spending to decrease. e. A decrease in money supply causes aggregate expenditure to increase.
The silly clothes worn by a circus clown are an example of
a. market inefficiency b. capital goods c. labor, if it is used by labor exclusively d. human capital e. entrepreneurship, if the clown becomes more creative wearing the clothes
According to James Duesenberry
a. relative income is unimportant b. the MPC decreases as national income increases c. Keynes's absolute income hypothesis is correct but his investment hypothesis is not confirmed by the data d. the consumption function slopes downward e. consumption spending is rooted in status
Ceteris paribus, according to the law of supply, if the price of lawn mowing decreases from $50 per lawn to $45 per lawn, then the:
A.) Quantity supplied of lawn mowing will decrease. B.) Supply curve for lawn mowing will shift to the right. C.) Quantity supplied of lawn mowing will increase. D.) Quantity supplied of lawn mowing will stay the same.