Which of the following is not a reason unions became much less effective in the 1990s?
A. Greater competition in domestic markets
B. Increased foreign competition
C. Downsizing by American firms
D. Increased regulatory scrutiny
Answer: D
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Profit is the payment made for land resources
a. True b. False
Supporters of minimum-wage legislation argue that:
A. a worker earning minimum wage should be able to live above the poverty line. B. it would not be fair for firms to pay a wage that would leave workers struggling to escape poverty. C. workers deserve a basic standard of living. D. All of these are true.
Jessie's demand schedule for candy bars indicates
A. How much she likes candy bars. B. Her opportunity cost of buying candy bars. C. How many candy bars she will actually buy. D. Why she likes candy bars.
Suppose that real GDP increases by 5% while the population of a country increases by 7%. Then:
A. Output per person necessarily increases B. Output per person necessarily decreases C. Output per person necessarily remains unchanged D. There is not enough information to determine what happens to output per person