An industrial union is
A) a union composed of public employees.
B) a union composed of workers who are in a specific geographic area.
C) a union composed of workers who are employed in a particular industry.
D) a union composed of workers who engage in a particular trade or skill.
C
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Ricardian equivalence implies
A) that when the government borrows more, the market real interest rate goes up. B) that if the government saves less, then the nation saves less. C) that when taxes are cut people consume more. D) that consumers will save their tax cuts to pay their future taxes.
There are currently 1,000 firms in a competitive industry. Minimum long-run average cost is $80 and price $100. Explain what will happen to price, profit, and the number of firms in this industry over time.
What will be an ideal response?
Suppose you form a legal partnership with your best friend, and she purchases consulting services calling for a $100,000 fee. Your business is broke, and you never wanted the consultants to work for you, just your partner did. For how much of this debt are you legally liable?
a. none of it b. $100,000 c. the proportion reflected by the proportion of the business owned d. only an amount equal to the assets of the business e. $50,000
Legislation that contains a number of projects benefiting local interests at the expense of the general taxpayer is called
a. balanced-budget legislation. b. pork-barrel legislation. c. voucher legislation. d. public-goods legislation.