The first type of labor unions that emerged in the United States were
A) industrial unions.
B) craft unions.
C) professional unions.
D) transportation unions.
Answer: B
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Answer the next question on the basis of the following information: Three goods are produced in an economy in the following amounts: A = 10, B = 30, C = 5. The current year per unit prices of these three goods are A = $2, B = $3, and C = $1.If the per unit prices of the three goods were each $1 in a base year used to construct a GDP price index, then real GDP in the current year is ________.
A. $160 B. $115 C. $45 D. $110
The demand for loanable funds curve shows that the higher the real interest rate, the
A) more the loanable funds demand curve shifts leftward. B) smaller the demand for loanable funds. C) smaller the quantity of loanable funds demanded. D) larger the demand for loanable funds. E) larger the quantity of loanable funds demanded.
Virtually all firms expend resources to do precise calculations of marginal cost and marginal revenue for decision making.
Answer the following statement true (T) or false (F)
A monopoly is an industry with
A. a single firm in which the entry of new firms is blocked. B. a small number of firms each large enough to impact the market price of its output. C. many firms each able to differentiate their product. D. many firms each too small to impact the market price of its output.