Goodyear Tire and Rubber Company and the United Steelworkers recently
A. ended a bitter strike.
B. went to arbitration to avert a strike.
C. agreed to major concessions including a wage freeze, job cuts, plant upgrades, and limited imports.
D. agreed to large pay increases tied to productivity gains.
C. agreed to major concessions including a wage freeze, job cuts, plant upgrades, and limited imports.
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"Reducing taxes increases incentives to work and save.". This view is typically associated with
a. Keynesian economics. b."Reagonomics.". c. Johnson's "Great Society" policies. d. the Carter administration.
A sudden rise in the market demand in a competitive industry leads to
a. A short run market equilibrium price higher than the original equilibrium b. A market equilibrium higher than the short run price c. Some firms exiting the market d. All of the above
An example of a modern democratic government commandeering resources is
a. the military draft b. government subsidizing agriculture c. government engaging in transfer payments d. government food stamps e. government tax refunds
If a firm is operating in a monopolistically competitive market, then in the long run:
A. the firm will earn a zero economic profit. B. the firm will maximize its profit by producing the output level at which the average cost is minimized. C. the firm will maximize its profit by producing the output level at which the marginal revenue is minimized. D. All of these