Unions became much less effective in the 1990s because of
a. greater competition in domestic markets.
b. increased foreign competition.
c. downsizing by American firms.
d. All of the above are correct.
d
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What is resale price maintenance and why would a manufacturer want to use it? Under what circumstances would resale price maintenance increase social gain?
What will be an ideal response?
The time inconsistency of monetary policy means that
a. once people have formed expectations of low inflation based on a promise by the central bank, the central bank is tempted to raise inflation to lower unemployment. b. at some times central banks think it is more important to keep unemployment low; at other times, they think it is more important to keep inflation low. c. monetary policy is not consistent across time because it is influenced by politics. d. monetary policy is not consistent across time because policymakers are incompetent.
Asarta Inc. is polluting into the nearby aquifer and the citizens of Buttersville demand that this be cleaned up. If the benefit to cleaning up the aquifer is estimated to be about $133,000 and the cost is estimated at $130,000 will the aquifer get cleaned?
A. Yes, because the benefit is high. B. No, because the costs outweigh the benefits. C. Yes, because the benefits outweigh the costs. D. Uncertain, with the information given.
When demand increases and the demand curve shifts to the right, equilibrium price ________ and equilibrium quantity ________.
A. increases; increases B. increases; decreases C. decreases; increases D. decreases; decreases