A labor union is an organization representing workers in negotiations with employers over wages, benefits, and working conditions.
Answer the following statement true (T) or false (F)
True
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A firm with two factories, one in Michigan and one in Texas, has decided that it should produce a total of 500 units of output in order to maximize profit. The firm is currently producing 200 units in the Michigan factory and 300 units in the Texas factory. At this allocation between plants, the last unit of output produced in Michigan added $5 to total cost, while the last unit of output produced in Texas added $3 to total cost. The firm
A. should produce 250 units in each factory. B. should produce more in the Michigan factory and less in the Texas factory. C. should produce more in the Texas factory and less in the Michigan factory. D. is maximizing profit; should keep producing 200 units in Michigan and 300 units in Texas.
The most obvious measure of low levels of development is
A. oil production. B. lack of water. C. low per capita income levels. D. bilingualism.
What is the antithesis of the rule of law?
A) Arbitrary governance B) Governance according to the will of whoever is in charge C) Both of the above. D) None of the above.
In many corporations, the managers of the corporation run the corporation, although the shareholders own the corporation. In this situation
A) there is no corporate governance. B) there is separation of ownership from control. C) there are no outside directors on the board of directors. D) there are no inside directors on the board of directors.