Which of the following might be a goal of a union?
a. increasing the size of the union
b. increasing the income while holding the size of the union constant
c. increasing both the size and income of the union
d. all of the above
d
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Explain briefly the following concepts:
(a) Increasing returns to scale (b) Decreasing returns to scale (c) Constant returns to scale
There was a very clear line of demarcation, which divided commercial banks and thrift institutions until the year
A. 1950. B. 1960. C. 1970. D. 1980.
If the number of people classified as unemployed is 50,000 and the number of people classified as employed is 250,000, what is the unemployment rate?
(A) 16.17 percent (B) 8.7 percent (C) 11.5 percent (D) 8 percent
Suppose that government imposes a specific excise tax on product X of $2 per unit and that the price elasticity of supply of X is unitary (coefficient = 1). If the incidence of the tax is such that the consumers of X pay $1.85 of the tax and the
producers pay $0.15, we can conclude that the: A. supply of X is highly inelastic. B. supply of X is highly elastic. C. demand for X is highly inelastic. D. demand for X is highly elastic.