The Hicks Paradox concerns the irrationality of
A. union dues.
B. strikes.
C. negotiating additional fringe benefits for union workers at the cost of receiving lower wages.
D. unions.
E. substituting low-skill labor for high-skill labor.
Answer: B
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Anything owed by a person or a firm is
A) wealth. B) a liability. C) an asset. D) owner's yield.
On June 3, 2005, it cost 1.22 U.S. dollars to buy one euro. How many euros did it take to buy one U.S. dollar?
a. 0.82 euros b. 0.88 euros c. 1.22 euros d. 88 euros
Which of the following would be most indicative of a shift to a more restrictive monetary policy?
a. Rapid expansion in the monetary base, higher short-term interest rates, and a decline in the growth rate of the M1 money supply. b. Rapid expansion in the monetary base, declining short-term interest rates, and an increase in the growth rate of the M2 money supply. c. A reduction in the monetary base, higher short-term interest rates, and a decline in the growth rate of the M2 money supply. d. A reduction in the monetary base, lower short-term interest rates, and a decline in the growth rate of the M1 money supply.
The Decentralized System Structure and Its Philosophy
What will be an ideal response?