A state with "right-to-work" laws would most likely have
A) higher employment levels than neighboring states without such laws.
B) more workers' benefits than neighboring states without such laws.
C) more union workers than neighboring states without such laws.
D) more worker safety requirements than neighboring states without such laws.
Answer: A
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
What does a firm's short-run total product curve show and what is its significance?
What will be an ideal response?
Consider a market characterized by the following inverse demand and supply functions: PX = 10 - 2QX and PX = 2 + 2QX. Compute the surplus producers receive when an $8 per unit price floor is imposed on the market.
A. $3. B. $1. C. $5. D. $2.
Resources are allocated efficiently when
A. output is produced in a sustainable fashion. B. the market produces what people want. C. output is distributed in an equitable fashion. D. economic profits are zero.