Labor unions that consist of workers from a particular industry, such as automobile manufacturing, are called
A) craft unions.
B) industrial unions.
C) collective unions.
D) closed unions.
Answer: B
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Bob's Books is the only bookstore in town. The figure above shows the demand curve for books and Bob's Books' marginal revenue curve and marginal cost curve
Bob's Books maximizes its profit and sets the price of a book equal to ________ and has total annual revenue of ________. A) $40; $40,000 B) $30; $60,000 C) $20, $60,000 D) $10; $40,000
In the short-run, an appreciation in the value of the U.S. dollar will tend to cause ________
A) a decrease in the level of income and higher inflation B) an increase in the level of income and higher inflation C) an increase in the level of income and lower inflation D) a decrease in the level of income and lower inflation
A pooling equilibrium occurs when
A) dissimilar workers are paid alike. B) firms can distinguish between workers of different qualities. C) workers of the same quality are paid different wages. D) all workers are overpaid equally.
If a firm is able to practice first-degree price discrimination, the firm will produce ________ than if they charged a single price to all consumers and the firm will earn ________ profit than if they charged a single price to all consumers.
A) more; more B) less; more C) more; less D) less; less