Which is the most accurate statement?
A. Collective bargaining negotiations usually end as a strike.
B. Most strikes cause devastating economic disruption.
C. The firm with the least ability to withstand a strike would be a service firm.
C. The firm with the least ability to withstand a strike would be a service firm.
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The economist who developed the checkerboard model of neighborhood segregation was
A) Milton Friedman. B) Thomas Schelling. C) John Nash. D) David Ricardo.
A tax that taxes a larger percentage of an individual's income as their income rises is called a _____
a. proportional tax b. progressive tax c. head tax d. regressive tax
Behavioral economics extends traditional economic models by
A) including insights from psychology and human cognition models. B) modeling behavior rather than prices. C) admitting that individuals are irrational. D) admitting that incentives are very important.
Refer to the above figure. Which diagram shows the effect on the market of Corn Flakes when the demand for Corn Flakes has increased?
A) graph C B) graph D C) neither graph D) both graphs