The purpose of the "draft" developed by owners' associations in many professional sports is to
A) assure all players at least a minimum salary.
B) control competition among owners for the services of players.
C) control competition among players.
D) control competition between players and owners.
E) keep all teams at roughly equal competitive levels.
B
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Use the following table which shows the aggregate demand and aggregate supply schedules for a hypothetical economy to answer the next question.Real Domestic Output Demanded (in billions)Price Level (index value)Real Domestic Output Supplied (in billions)$3,000350$9,0004,0003008,0005,0002507,0006,0002006,0007,0001505,0008,0001004,000The equilibrium price and output levels will be ________.
A. 250 and $7,000 B. 200 and $5,000 C. 300 and $8,000 D. 200 and $6,000
The long-run supply curve of an industry equals the industry’s
A. long-run marginal cost curve. B. the horizontal sum of all firms’ supply curves at any point in time. C. long-run average cost curve. D. long-run total variable cost curve.
The aggregate money demand depends on
A) the interest rate. B) the price level. C) real national income. D) the interest rate, price level, and real national income. E) the price level and the liquidity of the asset.
What immediate consequence does an increase in education time have in the endogenous growth model with human capital?
A) lower output B) lower output in the future C) lower wages D) lower human capital