The sport where labor restrictions on player movement are the hardest to enforce is
A. Major League Baseball.
B. NBA basketball.
C. European soccer.
D. NFL football.
Answer: C
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Refer to the table above. If the rental price of machines is $140 per day, up to how many machines should the firm rent?
A) 2 B) 3 C) 4 D) 5
Some superstar athletes in the sports industry earn very high levels of income relative to other occupations, and over time the wage differential has been increasing. What could have caused this?
A) The market power of athletes' unions has increased. B) Technological advances such as cable television has increased the demand for sports entertainment. C) The supply of star athletes has decreased. D) The supply of star athletes has increased due to college athletic programs.
If two fast food pizza companies are in an agreement, this is an example of a ________ agreement.
A) leftward B) vertical C) rightward D) horizontal
In the view of the classical school, unemployment
a. is a permanent condition b. disappears when everyone who is willing to work at the equilibrium wage finds employment c. exists because people do not interfere with the competitive process d. is only temporary because all wages and prices are rigid e. is necessary and not really harmful to the economy