A union shop is a
A) strike by a union in sympathy with another union's strike or cause.
B) dispute involving two or more unions over which should have control of a particular jurisdiction.
C) business enterprise in which employees must belong to the union before they can be hired and must remain in the union after they are hired.
D) business which may hire nonunion members conditional on their joining the union by some specified date after employment begins.
D
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Only when the goods market is in equilibrium is it true that ________
A) actual expenditure equals output B) the amount of goods and services produced equals actual expenditure C) planned expenditure equals the amount of goods and services produced D) demand for foreign goods equals foreigners' demand for domestic goods E) none of the above
As the price of a good rises, the consumer will experience
A) a desire to consume a different bundle. B) a decrease in utility. C) a downward or leftward movement on the indifference map. D) All of the above.
Refer to the graph shown. In 1930, the United States passed the Smoot-Hawley Tariff Act, which raised tariffs on imported goods at an average of 60 percent. Other countries retaliated with similar tariffs and world output declined. The effect of the decline in foreign output on the U.S. AD curve can be shown by a movement from:
A. A to B. B. A to C. C. A to D. D. B to A.
Suppose the figure shown represents the production possibilities frontier for Country A. Country B offers to trade four trucks for every airplane. Assuming Country A specializes in airplane production, which of the following combinations of goods could Country A consume?
A. (15 airplanes, 20 trucks) B. (5 airplanes, 20 trucks) C. (10 airplanes, 30 trucks) D. (10 airplanes, 20 trucks)