Temporary or permanent workers hired to replace striking union workers are known as
A) strikebreakers.
B) backbreakers.
C) rationers.
D) strikeaiders.
Answer: A
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Since a union represents individuals rather than firms, it cannot be considered a monopoly
a. True b. False Indicate whether the statement is true or false
During 2011 the inflation rate in Brazil was about 6.6% while in the U.S. it was about 3.3%. At the start of 2011 the nominal exchange rate was about 1.7 Brazilian real per U.S. dollar. If purchasing-power parity holds, about what should the nominal exchange rate have been at the end of 2011? Show your work
The demand for a resource rises as
A. its productivity rises and the relative prices of substitutable resources rise. B. its productivity rises and prices of substitutable resources fall. C. its productivity falls and the relative prices of substitutable resources fall. D. its productivity falls and prices of substitutable resources fall.
Exhibit 7-9 A firm's cost and marginal revenue curves
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In Exhibit 7-9, product price in this market is fixed at $7. This firm is currently operating where MR = MC. What do you advise this firm to do?
A. This firm should shut down. B. This firm could increase profits by increasing output. C. This firm could increase profits by decreasing output. D. This firm should increase price.