The AFL split in 1935 because of a dispute over

A. whether to organize along craft or industrial lines.
B. whether or not to strike.
C. whether or not to support President Roosevelt for reelection.
D. whether or not to expel the Teamsters Union for corruption.


A. whether to organize along craft or industrial lines.

Economics

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Productive efficiency refers to

A. setting TR = TC. B. maximizing profits by producing where MR = MC. C. cost minimization, where P = minimum ATC. D. production at a level where P = MC.

Economics

The interest rate is the price borrowers pay to borrow money.Key interest rates are controlled by the Federal Reserve System.If the Federal Reserve acts to reduce interest rates, economists would expect the quantity of money demanded to

A. increase. B. decrease. C. not change. D. not change, although the demand schedule itself will shift outward.

Economics

A foreign bank receives a deposit of $10,000 from a U.S. citizen. As a result, there is a net capital outflow from the U.S., if ________

A) the bank buys a U.S.-made computer B) the bank buys a bond issued by a U.S. company C) the bank keeps the $10,000 in a vault D) all of the above E) none of the above

Economics

Which of the following is the incorrect statement?

A. dB(Q)/dQ = MB. B. The marginal benefits curve is the slope of the total benefits curve. C. The slope of the net benefit curve is horizontal where MB = MC. D. The difference in the slope of the total benefit curve and the total cost curve is maximized at the optimal level of Q.

Economics