Craft unions have typically been most effective in raising wage rates by:
A. Legislating a minimum wage rate above the competitive equilibrium level
B. Increasing the demand for labor of union members
C. Decreasing the supply of labor through licensing and training requirements
D. Organizing all of the employees in a factory or industry and demanding wage hikes
C. Decreasing the supply of labor through licensing and training requirements
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Part-time workers are considered both a part of the labor force and employed
Indicate whether the statement is true or false
Refer to the data. Diminishing marginal returns become evident with the addition of the:
Answer the question on the basis of the following output data for a firm. Assume that the amounts of all nonlabor resources are fixed.
A. sixth worker.
B. fourth worker.
C. third worker.
D. second worker.
According to new growth theory, as technology becomes more important to growth, so does
A) increasing taxes. B) human capital. C) military spending. D) increasing trade barriers.
Suppose a study finds most pot-smokers drank milk as young children
If we reach the conclusion that because most pot smokers "started" on milk, milk drinking "leads" to pot-smoking (at least among certain susceptible groups of milk users), we are most likely A) engaging in correct analysis. B) confusing statistical correlation with causation. C) following the axioms of selfish interests. D) assuming people really do not know what is in their own interests.