Which is NOT one of the potential benefits of labor unions?
A) Unionism raises social efficiency.
B) Unions appear to reduce wage inequality.
C) Unions may reduce a company's profits.
D) Unions may have contributed to safer working conditions.
C
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Specialization and trade
A) does not benefit anyone. B) allows nations to produce inside their individual production possibilities frontier. C) allows nations to consume combinations of products that are outside their individual production possibilities frontier. D) shifts the production possibilities frontier inward. E) shifts the production possibilities frontier outward.
An investment tax credit creates jobs mostly for the year in which it is granted.
Answer the following statement true (T) or false (F)
Karen, Tara, and Chelsea each buy ice cream and paperback novels to enjoy on hot summer days. Ice cream costs $5 per gallon, and paperback novels cost $8 each. Karen has a budget of $80, Tara has a budget of $60, and Chelsea has a budget of $40 to spend on ice cream and paperback novels. Who can afford to purchase 8 gallons of ice cream and 5 paperback novels?
a. Karen, Tara, and Chelsea
b. Karen only
c. Tara and Chelsea but not Karen
d. none of the women
Which of the following described the attitude of most economists toward the U.S.-based automobile sector during the 2008 recession?
A. If their industry failed, it would not take the rest of the economy down with it. B. It should be taken over by the Federal Government. C. It needed to receive subsidies from the government in order to produce hybrid cars. D. It needed to be bailed out, just like the financial sector was bailed out.