All but which of the following is a way for unions to increase the demand for their union labor
a. increase the demand for union-made goods
b. improve the working conditions for their labor
c. restrict the supply of nonunion-made goods
d. increase the productivity of union labor
e. featherbedding
B
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Auto workers laid off from Hot-Rod Autoworks as the result of a recession are considered
A) seasonally unemployed. B) frictionally unemployed. C) structurally unemployed. D) cyclically unemployed.
Compared to a cartel, firms in a Cournot Oligopoly
A) make more joint profit. B) sell less output. C) make less joint profit. D) act independently.
The inflation associated with the oil embargoes of the 1970s illustrated the _____ of the downward-sloping Phillips curve in the long run, as unemployment _____ during this period
a. validity; fell b. validity; rose c. fallacy; rose d. fallacy; fell e. fallacy; did not change
Insurance works because it:
A. reallocates the costs of unforeseen events, sparing any individual from taking the full hit. B. prevents any one individual from experiencing all the unforeseen events. C. makes it less likely that their clients will experience unforeseen events. D. None of these statements is true.