A craft union is a labor organization that represents people with a particular skill.
Answer the following statement true (T) or false (F)
True
Industrial unions include workers in a particular industry (the United Auto Workers, for example). Craft unions represent workers with a particular skill (like the International Brotherhood of Electrical Workers), regardless of the industry in which they work.
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An example of a positive externality is
A. Increased business profits at a hardware store that benefited from a tornado. B. Increased factory use of private sector robotics that came from government research. C. Increased health problems from air pollution. D. None of the choices are correct.
If the owner of the firm, shown above is a profit maximizer, the firm should ________ in the short run.
A. expand output to lower costs B. continue to operate at the existing output C. shutdown D. More data is needed to say definitively what the firm should do.
Suppose that the Federal Reserve Open Market Committee adheres to the ideas expressed by ________. If the economy moves into a recession, the Fed would recommend that the federal funds target rate decrease as long as the inflation rate did not rise above
the publicly announced goal for inflation. A) the gold standard B) the monetarist school of thought C) inflation targeting D) the Taylor Rule
Assume the graph shown represents Kerri's budget constraint. If Kerri's income to spend on these two items increased, which of the following would be true?
A. Kerri's budget constraint would shift in, maintaining the same slope. B. Kerri's budget constraint would shift out, and get flatter. C. Kerri's budget constraint would shift out, and get steeper. D. Kerri's budget constraint would shift out, maintaining the same slope.