A business enterprise in which employees must belong to the union before they can be hired is called a(n)
A) craft union.
B) industrial union.
C) closed shop.
D) union shop.
Answer: C
You might also like to view...
In perfect competition, the product of a single firm
A) has many perfect substitutes produced by other firms. B) has many perfect complements produced by other firms. C) is sold under many differing brand names. D) is sold to different customers at different prices.
Regarding government manipulation of the interest rate, all of these statements are correct, except: a. To address business fluctuations, governments may reduce interest rates to induce people to borrow
b. Such manipulations may give little thought to the effects on resource allocation between present and future. c. Economists agree with the concept of using of interest rates to allocate resources among different time periods. d. Generally, the price system reflects public preference between present and future resource allocation.
A factor that might have contributed to the weakening of the U.S. economy in 2007-2009 was
A. the impending expiration of the Bush Tax Cuts of 2003. B. rising levels of federal government spending. C. historically-low interest rates. D. rapid growth of the money stock.
In Figure 17.3, an increase in the demand for labor will cause the equilibrium:
A. wage and hours of labor used to increase. B. wage and hours of labor used to decrease. C. wage to increase and hours of labor used to decrease. D. wage to decrease and hours of labor used to increase.