Most economists believe that labor unions significantly increase the overall unemployment rate in the United States
Indicate whether the statement is true or false
FALSE
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Economic theory defines capital as
A) anything that is scarce. B) non-human resources. C) produced resources used to produce future goods. D) resources containing a positive opportunity cost. E) stocks and bonds.
The type of labor agreement that requires workers to be union members prior to being considered for employment is a
A) right-to-work agreement. B) closed-shop agreement. C) union shop agreement. D) open-shop agreement.
We call a group a team if the total output produced by the group can be separated into individual outputs
Indicate whether the statement is true or false
If Brazil experienced a period of rapid and unexpected inflation, causing Brazilians to lose confidence in the local currency (real) as a store of value, which of the following would be least likely to occur?
a. The value of the Brazilian real would depreciate on the foreign exchange market. b. Foreign currency would be used as a substitute for the real. c. The real would be used as a store of value in other countries d. Brazilians would save less. e. The purchasing power of the real would decrease.