A primary objective of labor unions is to
A. seek better pay and improved work conditions.
B. have equal power with their employer.
C. secure equal pay for its members.
D. all of these.
E. none of these.
Answer: A
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Which of the following is true of basic research? a. Basic research is the search for knowledge that does not aim at answering a specific question
b. Basic research is research that is not complex since it addresses elementary questions. c. Basic research is research that seeks to apply scientific discoveries to the development of specific products. d. Basic research is the search for knowledge to solve a particular problem. e. Basic research is always funded by the central government of a country.
Suppose a consumer with an income of $100 is faced with Px = 1 and Py = 1/2. What is the market rate of substitution between good X (horizontal axis) and good Y (vertical axis)?
A. -1.0 B. -2.0 C. -4.0 D. 0.50
Say's Law is based on the relationships among
A. the demand for money and the supply of money. B. saving, investment, and the interest rate. C. the credit, product, and labor markets. D. production, income, and spending.
All of the following are characteristics of a perfectly competitive industry EXCEPT
A) the product sold is homogeneous. B) firms in the industry are price takers. C) buyers and sellers have equal access to information. D) there are a large number of buyers and sellers with only a few being able to influence the market price.