By the late 1880s, the main difference between the American Federation of Labor (AFL) and the Knights of Labor was
(a) the relatively low dues charged members by their AFL locals.
(b) the broader membership base of AFL locals compared to the Knights.
(c) the AFL's commitment to "progressive" politics.
(d) the narrow membership qualifications of AFL locals compared to
the Knights.
(d)
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When a government imposes penalties on both sellers and buyers of an illegal good, the price of the good ________ and the quantity ________
A) falls; decreases B) falls; might increase, decrease, or not change C) rises; might increase, decrease, or not change D) might rise, fall, or not change; decreases
The marginal social cost of a chemical is $100 per ton and its marginal private cost is $85 per ton. What is the marginal external cost of the chemical?
What will be an ideal response?
The opportunity cost of any choice:
a. is the value of all other alternatives. b. includes only explicit costs and not implicit costs. c. is the value of the next best alternative. d. includes only implicit costs and not explicit costs.
The traditional definition of a recession is a decline in real GDP lasting for
A) at least one month.
B) at least two consecutive quarters.
C) at least one year.