Which of the following labor organizations was limited to skilled craft workers and emphasized that unions should control the place of employment; stick to wages, hours, and working conditions in their negotiations; win strikes; and, in politics,
"reward our friends and punish our enemies"?
(a) The National Labor Union
(b) The Knights of Labor
(c) The American Federation of Labor
(d) The American Labor Union
(c)
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The demand for insulin is quite inelastic. The demand for Pepsi is quite elastic. Suppose the elasticity of supply for insulin is the same as the elasticity of supply for Pepsi
If a $0.20 tax was imposed on each of these goods (holding everything else constant), which consumers would pay more of the tax? A) the Pepsi consumers B) the insulin consumers C) There would be no difference in the amount of tax paid by the consumers. D) More information is needed to determine which consumers pay more of the tax. E) The premise of the question is wrong because the elasticity of demand and the incidence of a tax are not related.
Which of the following is NOT true of the term premium?
A) It is zero under the expectations theory. B) It is infinite under the segmented markets theory. C) It increases as a bond's maturity increases. D) It is zero for thirty-year bonds.
In the U.S., one example of a cartel that is legal is
A) the railroads, including Union Pacific. B) the oil industry. C) Major League Baseball. D) None, all cartels are prohibited.
Suppose in the country of Jumanji that the price of wheat with no trade allowed is above the world price of wheat. If Jumanji allows free trade, will Jumanji be an importer or an exporter of wheat?