Which of the following organizations is a powerful union in the public sector?
a. American Medical Association (AMA)
b. National Education Association (NEA)
c. National Rifle Association (NRA)
d. United Automobile Workers (UAW)
b. National Education Association (NEA)
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Refer to the table above. Which of the following is likely to be true in this case?
A) Laborland's terms of trade will improve. B) Laborland's economy will go into a recession. C) There will be a surplus in Laborland's financial account. D) There will be a deficit in laborland's financial account.
A decrease in the number of competitors in a monopolistically competitive market causes an increase in the price elasticity of demand for the output of each of the remaining firms in the market
Indicate whether the statement is true or false
Assume Brandon's benefit function for water is S(W) = ?W and he consumes water both in droughts, WD, or in the rainy season, WR. Assume his current consumption bundle is WD = 36 and WR = 25 and the probability of drought is 0.75. Expected water consumption is:
A. 33.25 units of water. B. 61 units of water. C. 30.5 units of water. D. 27 units of water.
In an equilibrium in otherwise identical markets, producer surplus is higher for a monopolist than for a competitive firm
Indicate whether the statement is true or false