The _____ Act allows states to enact "right-to-work" laws.
A. National Labor Relations
B. Taft-Hartley
C. Landrum-Griffin
D. Sherman Antitrust
B. Taft-Hartley
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Refer to Table 15-4. What is the economically efficient output level?
A) 5 units B) 6 units C) 7 units D) 8 units
Households act as suppliers when they provide
a. goods and services to firms and governments b. resources to firms and governments c. tax payments to governments d. the demand for only what firms supply or make available e. money to firms in exchange for goods and services
To determine whether two goods are substitutes or complements, an economist would estimate the:
a. price elasticity of demand. b. income elasticity of demand. c. cross-elasticity of demand. d. price elasticity of supply.
In the long run, a decrease in the price level: a. leaves output prices unchanged relative to input prices. b. decreases the profit margins of many producers
c. decreases RGDP supplied. d. Does none of the above