In a strike, what does the union have to lose? What does management lose?
The most important loss to the striking workers is their wages. The loss of this income can devastate a family whose principal source of income is a union worker's pay. Management loses potential profits and suffers proportionately more the higher its fixed costs. Both interests lose as the product is removed from the market and once-loyal consumers seek substitutes. These customers may choose not to come back once the strike ends.
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The proportion of total direct expenditure made by local governments is called the centralization ratio.
A. True B. False C. Uncertain
What does an empirical analysis of the key votes at the Constitutional Convention suggest?
(a) Merchants, manufacturers, capitalists, creditors, and public and private security holders supported a national system of government. (b) Delegates from larger and coastal states, as well as bankers and other private debt holders, were most likely to support the new Constitution. (c) Slaveholders were likely to stand in opposition to the Constitution, while farmers and debtors were either opposed or indifferent. (d) All of the above are correct.
As one moves southeast on a linear demand curve
A. demand becomes more inelastic. B. demand becomes more elastic. C. elasticity stays the same. D. one cannot tell what happens to elasticity unless the slope of demand is known.
The Fed changes the federal funds rate using open-market operations.
a. true b. false