Who belongs to unions? Answer in terms of the types of industries and occupations, and the personal characteristics of workers
What will be an ideal response?
Occupation and industry are important factors that explain who belongs to unions. The rate of unionization is high in government, transportation, construction, manufacturing, and mining. Men, blacks, and those living in urban areas are more likely to be union members.
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What are the advantages of vertical integration?
The income elasticity of demand for low-quality beef is -2. Thus, a 5% increase in the quantity of low-quality beef demanded
A. is the result of a decrease in income of 2.5%. B. is the result of an increase in income of 2.5%. C. is the result of a decrease in income of 10%. D. is unrelated to any change in income.
Refer to Figure 16.3 below. When the MC z line crosses the D z line, profits for the firm are
A. 0.
B. greater than 1.
C. less than 0.
D. ?.
Refer to the accompanying figure. For Chris, the opportunity cost of planting one bulb is removing:
A. 1/3 of a bag of trash. B. 1/25 of a bag of trash. C. 3 bags of trash. D. 25 bags of trash.