Which of the following is NOT a union wage and employment strategy?
A) ensuring employment for all members of a union
B) maximizing aggregate income of workers
C) maximizing wage rates for some workers
D) minimizing the adjusted gross income of non-members
D
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The above table gives the demand schedule for a monopoly. The demand is inelastic over the entire price range between
A) $6 and $1. B) $5 and $1. C) $3 and $1. D) $6 and $4. E) $4 and $3.
Suppose the Fed decreases the money supply. In response households and firms will ________ short term assets and this will drive ________ interest rates
A) sell; down B) buy; down C) sell; up D) buy; up
Suppose a new oxygen-enrichment process will cut in half the energy required to smelt copper. The firm selling licenses for this patented process will experience a greater demand for its product when
a. the price of copper falls and smelters become more desperate to economize. b. energy prices are expected to fall. c. energy prices are expected to rise. d. the price of steel, a substitute for copper, declines.
Economies of scope are present when a bank also sells insurance and provides brokerage services for stocks and bonds.
Answer the following statement true (T) or false (F)