An industrial union is a union composed of
A. workers in numerous occupations but working in the same industry.
B. workers in manufacturing industries, rather than in the commercial, service, or government sectors.
C. workers sharing a similar industrial job.
D. high-wage workers.
A. workers in numerous occupations but working in the same industry.
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The monetary growth rule is a plan for increasing the quantity of money
A) at a rate which increases as the economy grows. B) at a rate which decreases as the economy declines. C) at a rate which increases during recessions and decreases during expansions. D) at a fixed rate that does not respond to changes in the economic condition.
Every point on the joint production possibilities frontier represents
A) an initial endowment. B) inefficient production. C) the marginal rate of substitution of goods for each producer. D) at least one producer specializing in production.
In long-run equilibrium, which of the following is not equal to price for a perfectly competitive firm?
a. Short-run average variable cost. b. Long-run average total cost. c. Short-run marginal cost. d. Short-run average total cost.
In a thin market:
A. only high-quality goods are sold. B. some high-quality goods are sold, but fewer than would be sold in a market with perfect information. C. some low-quality goods are sold, but fewer than would be sold in a market with perfect information. D. no high-quality goods are sold.