The first union to organize workers across skills, industries, and regions was the
a. Knights of Labor
b. Knights of Columbus
c. American Federation of Labor
d. Congress of Industrial Organizations
e. Taft-Hartley
A
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In an unregulated, competitive market consumer surplus exists because some
A) sellers are willing to take a lower price than the equilibrium price. B) consumers are willing to pay more than the equilibrium price. C) sellers will only sell at prices above equilibrium price (or actual price). D) consumers are willing to make purchases only if the price is below the actual price.
If foreigners become unwilling to hold U.S. assets, the U.S. trade balance will:
A. go further into surplus. B. go further into deficit. C. experience smaller surpluses. D. experience smaller deficits.
________ states that if previously existing distortions exist, a distortionary tax may actually improve efficiency.
A. The principle of second best B. The principle of neutrality C. The rule of reverse distortion D. The benefits-received principle
Government programs, such as Social Security, food stamps, AFDC, SSI, Medicare, and Medicaid, that guarantee particular levels of transfer payments to all who fit the programs' criteria are called:
A. Public assistance programs B. Social insurance programs C. Benefit-reduction programs D. Entitlement programs