The Taft-Hartley Act of 1947 outlawed
A) strikes.
B) make-work rules and forcing unwilling workers to join a union.
C) right-to-work states.
D) none of the above.
Answer: B
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Which of the following is TRUE?
A) Child labor is most common in urban areas. B) Child labor is most common in the textile industry. C) Child labor is most common in production aimed at export markets. D) If child labor were stopped, families would have greater economic success. E) Agriculture is the main industry using child labor.
According to the simple circular flow concept, whenever planned investment is greater than planned saving during a period of less than full employment, there is a tendency for
a. total output to remain stable. b. prices to rise. c. employment to increase. d. inventories to accumulate.
Refer to Figure 3.1. Which graph best represents the total benefit of an activity?
A. A
B. B
C. C
D. D
Smith and Jones comprise a two-person economy. Their hourly rates of production are shown in the accompanying table. Calculators Per HourComputers Per HourSmith10010Jones1206Suppose Smith and Jones begin by producing 0 computers and 220 calculators per hour. If they wish to produce 2 computers and 200 calculators per hour efficiently, then Smith should spend ________, and Jones should spend ________.
A. 12 minutes making computers and 48 minutes making calculators; 1 hour making calculators B. 48 minutes making computers and 12 minutes making calculators; 1 hour making calculators C. 1 hour making calculators; 10 minutes making computers and 50 minutes making calculators D. 30 minutes making each; 30 minutes making each