For the past several decades, union membership in the United States has been declining. What has been happening in the rest of the world?
A) Union membership has been increasing in almost every other country.
B) In almost every other nation, union membership has held constant.
C) In most cases, union membership in other nations has also been falling.
D) We do not know because other nations do not keep these statistics.
Answer: C
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a. Fixed-cost fallacy b. Sunk-cost fallacy c. Hidden-cost fallacy d. None of the above
Production technologies A and B can have the same-shaped isoquant map, with technology A having decreasing returns to scale and technology B having increasing returns to scale.
Answer the following statement true (T) or false (F)
Who is likely to be in favor of a country that would be a net-exporter if it moved from autarky to free trade?
A. Foreign governments. B. Domestic producers C. Domestic consumers D. Foreign producers
Refer to the above figure. If the marginal cost curve for pollution abatement shifts to the right, everything considered, the
A) degree of air quality or cleanliness will also decrease. B) the degree of air quality or cleanliness will stay unchanged. C) the degree of air quality will improve. D) the marginal cost of pollution abatement has nothing to do with air quality.