Any practice that forces employers to use more labor than they would otherwise use is
A) closed shop.
B) monopolistic exploitation.
C) a craft union.
D) featherbedding.
D
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Use the following diagram to answer the next question.
The most likely cause of a shift of a production possibilities frontier of an economy AB to CD is
A. technological progress. B. allocative efficiency. C. a decrease in the price level. D. full employment of resources.
The price of one good produced by a multiproduct industry rises. The effect on a second good produced by that industry will be
A. a shift left in the supply curve for the second good. B. no change in the supply curve for the second good. C. a shift right of the supply curve for the second good. D. a shift right of the demand curve for the second good.
________ theory relates the quantity of money and monetary policy to changes in aggregate economic activity and inflation
A) Monetary B) Fiscal C) Financial D) Systemic
What is one reason activists might lobby the government for regulation limiting the production of a product to less than would normally be in a perfectly competitive market?
A) They value consumer surplus more than producer surplus. B) They value producer surplus more than consumer surplus. C) They seek to avoid future regulation. D) They seek to minimize total surplus.