In 1935 the CIO split off from the AFL in a dispute over ______________________.
Fill in the blank(s) with the appropriate word(s).
whether to organize along industrial lines or craft lines
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Two individuals are playing a trust game that has three rounds. In the first two rounds of the game, they have accumulated $1,000 as a team
In the third round, Player 1 is blindfolded and asked to decide whether he would let Player 2 guide him to a particular destination or opt out of the game. If he lets Player 2 guide him, Player 2 can either guide him to the correct destination or take him elsewhere. If he leads him to the correct destination, each of them will get half the accumulated money. On the other hand, if Player 2 can lead him astray, Player 2 will get 75% of the accumulated money and Player 1 will get 25%. If Player 1 opts out of the game, he will get 30% of the accumulated money and Player 2 will get 20%. a) What is the equilibrium outcome in this case? b) How will the equilibrium change if the players can impose a guilt penalty of 60% of the accumulated money on the defecting player?
Which of the following is true regarding income along a price-consumption curve?
A) Income is increasing. B) Income is decreasing. C) Income is constant. D) The level of income depends on the level of utility.
The oligopoly price will be greater than marginal cost but less than the monopoly price when
a. the oligopolists collude by jointly choosing a quantity to produce and maintaining their agreement. b. the oligopolists collude by jointly choosing a price to charge and maintaining their agreement. c. each oligopolist individually chooses a quantity to produce to maximize profit. d. each oligopolist's objective is minimization of average total cost, rather than maximization of profit.
The long-run aggregate supply (LRAS) curve is a ________ drawn at ________
a. horizontal line; the equilibrium price level b. vertical line; the potential output level c. downward-sloping curve; the equilibrium price level d. horizontal line; the potential output level