Which union status provides the weakest form of union security?
A. Open shop
B. Agency shop
C. Union shop
D. Closed shop
A. Open shop
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When firms in a U.S. industry outsource some of their production,
A) both U.S. labor demand and U.S. wages in the industry fall B) U.S. labor demand falls, but U.S. wages are not affected. C) U.S. labor demand remains unchanged, but U.S. wages fall. D) U.S. labor demand falls, but U.S. wages increase.
An industry characterized by only a few firms in the market is called: a. a monopoly
b. monopolistic competition. c. an oligopoly. d. perfect competition.
Other things being equal, a decrease in an economy's exports will
A. decrease domestic aggregate expenditures and the equilibrium level of GDP. B. increase domestic aggregate expenditures and the equilibrium level of GDP. C. increase the amount of imports consumed by the private sector. D. have no effect on domestic GDP because imports will offset the change in exports.
Which statement most accurately describes the distribution of income among US families?
a. In 2005, as in most of American history, poor people work on average many more hours than do high-income people. b. The median real family income has remained about the same since 1970. c. One of the most significant determinants of income inequality in the US has been the increase in demand for highly trained labor. d. Earnings of married-couple families have grown more slowly than earnings of both male and female households with no spouse.