One union follows another union and starts a work stoppage. This is an example of a
A) sympathy strike.
B) secondary boycott.
C) closed shop.
D) union shop.
Answer: A
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When banks use the money they receive from deposits to make loans, they:
A. decrease the money supply through open market operations. B. increase the money supply through open market operations. C. increase the money supply through the money multiplier. D. decrease the money supply through the money multiplier.
If the market wage for fast-food restaurants is $4 and the government enforces a minimum wage of $7, the unemployment rate will
A. Not be affected by the minimum wage. B. Increase as quantity of labor supplied increases and quantity of labor demanded decreases. C. Increase as quantity of labor supplied increases and quantity of labor demanded increases. D. Increase as quantity of labor supplied decreases and quantity of labor demanded increases.
Suppose the cost function is C(Q) = 50 + Q ? 10Q2 + 2Q3. What is the marginal cost of producing 10 units?
A. $1,010 B. $560 C. $401 D. $1,060
The economic theory of demand assumes that
What will be an ideal response?