What is the role of nongovernmental organizations in promoting labor standards?
a. They have no enforcement power, but they can investigate and bring attention to and put pressure on firms, governments, and other groups to effect change.
b. Because they are nongovernmental, they have no power.
c. They can change laws for labor in many situations.
d. Because they are part of the United Nations, they often report their findings and cause major policy changes.
Ans: a. They have no enforcement power, but they can investigate and bring attention to and put pressure on firms, governments, and other groups to effect change.
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Holding money is:
A. nearly always the most convenient way to hold onto wealth over time. B. almost never the most convenient way to hold onto wealth over time. C. nearly always the least convenient way to hold onto wealth over time. D. rarely the most convenient way to hold onto wealth over time.
Higher unemployment insurance benefits tend to increase unemployment because they
a. reduce the opportunity cost of job search and, hence, increase the search time. b. increase the opportunity cost of job search and, hence, increase the search time. c. reduce the opportunity cost of job search and, hence, decrease the search time. d. increase the opportunity cost of job search and, hence, decrease the search time.
Refer to Table 4.3. After calculating the price elasticity of demand for computers, we can say the demand for computers is:
A. upward sloping. B. inelastic. C. unit elastic. D. elastic.
A natural monopoly exists when
A) the firm holds a patent. B) there are governmental entry restrictions. C) the firm owns all of the raw materials needed to produce the product. D) economies of scale occur.