Featherbedding refers to
A) the practice of laying off union activists.
B) increased international competition and its negative impact on trade unions.
C) union leaders arguing for higher wages when they know that they will not become unemployed given their seniority.
D) the practice of inducing a firm to use more than the cost-minimizing level of labor.
Answer: D
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In a market economy, buyers and sellers communicate their intentions to one another through:
a. government planners. b. negotiations overseen by government agencies. c. elected officials. d. prices.
Janae was fired from her job with Microsoft in the 2008-09 recession because Microsoft's sales dipped. Janae's unemployment would be best classified as
A) natural unemployment. B) cyclical unemployment. C) structural unemployment. D) sales-related unemployment. E) frictional unemployment.
A multinational agency that specializes solely in making loans to promote long-term development and growth in developing countries is the
A) Federal Reserve System. B) World Bank. C) International Monetary Fund. D) International World Fund.
In the short-run:
a. All costs are variable b. Some costs are fixed and some costs are variable c. There are no fixed inputs d. The firm is not constrained to vary output