The establishment of "right-to-work" laws came about with the passage of the
A. Sherman Antitrust Act.
B. Taft-Hartley Act.
C. National Labor Relations Act.
D. Landrum-Griffin Act.
B. Taft-Hartley Act.
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Suppose two industries had the same four-firm concentration ratio, but one industry was an unbalanced oligopoly and the other was balanced. The market share of the fourth largest firm in the unbalanced oligopoly will be
a. smaller or larger than the market share of the first largest firm in the unbalanced oligopoly b. smaller than the market share of the fourth largest firm in the balanced oligopoly c. larger than the market share of the first largest firm in the balanced oligopoly d. more than 20 percent e. the same as the fourth largest firm in the balanced oligopoly
To increase total revenue, firms with ________ demand should lower price, and firms with ________ demand should increase price.
A. elastic; unit B. elastic; inelastic C. unit; inelastic D. inelastic; elastic
The consumer price index for the current year measures the cost of a standard basket in the ________ year relative to the cost of the same basket in the ________ year.
A. base; current B. current; current C. base; index D. current; base
Relevant economic data for Company Town Mining, Inc., is shown above. The labor force (including those not now working) of Company Town organizes and demands a minimum wage, W, for all workers. If Company Town Inc. accepts the offer it will:
A. Pay lower wages
B. Hire more workers
C. Hire fewer workers
D. Hire the same number of workers