Management's power in collective bargaining sessions rests on
A. The firm's market power in pricing its product.
B. The ability to lock out workers by closing stores or factories.
C. The ability to fire nonunionized workers.
D. The company's stock valuation.
Answer: B
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President Obama's 2009 stimulus package greatly increased the budget deficit
Indicate whether the statement is true or false
In calculating the unemployment rate, part-time workers over the age of 16 are counted as
A) not in the labor force. B) employed if they are part-time workers for noneconomic reasons and unemployed if they are involuntary part-time workers. C) not in the working-age population. D) unemployed. E) employed.
Which of the following is true of the natural rate of unemployment?
A) The actual rate of unemployment is higher than the natural rate of unemployment during a recession. B) The natural rate of unemployment excludes long-term structural unemployment. C) The natural rate of unemployment is the socially optimal or desirable rate of unemployment. D) The natural rate of unemployment excludes frictional unemployment.
The above figure shows the Lorenz curves for four different countries. Which of the following statements CANNOT be made on the basis of the graph?
A) Incomes are distributed unequally in all four countries. B) Income distribution in country D is the most unequal among the four countries. C) Incomes are higher in country A than in country B. D) Income distribution is more equal in country B than in country D.