Collective bargaining is a process used by unions and management to settle upon the terms of a labor contract
a. True
b. False
Indicate whether the statement is true or false
True
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How do consumers react to a tax on an item with few or no substitutes?
a. They stop consuming the product. b. They consume a bit less. c. They consume considerably less. d. They consume a bit more.
When a firm is experiencing diseconomies of scale, it should
A. expect its average total cost to increase if it reduces the scale of its operations. B. expect its average total cost to decrease if it reduces the scale of its operations. C. lower its price to attract new consumers. D. expect its average total cost to remain unchanged if it changes the scale of its operations.
The charitable organization Creating Hope International trains women in Afghanistan to become tailors. This effort reduces
A) entrepreneurship differences between advanced and developing economies. B) human capital differences between advanced and developing economies. C) physical capital differences between advanced and developing economies. D) agricultural differences between advanced and developing economies. E) manufacturing differences between advanced and developing economies.
Refer to Table 14-1. What is the Nash equilibrium in this game?
A) Star Connections increases its advertising budget, but Godrickporter does not. B) There is no Nash equilibrium. C) Both Godrickporter and Star Connections increase their advertising budgets. D) Godrickporter increases its advertising budget, but Star Connections does not.