During the Great Depression, union membership _____ due to _____
a. expanded, greater cooperation between radicals and conservatives in the labor movement.
b. expanded, the passage of pro-union legislation.
c. contracted, greater conflict between radicals and conservatives in the labor movement.
d. contracted, people wouldn't risk losing their jobs by joining a union when unemployment was high.
b. expanded, the passage of pro-union legislation.
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In the mid-1970s, antitrust policy began a new phase characterized by
a. the use of per se rules. b. reliance on economic analysis. c. the definition of a monopoly as a firm with dominant market share. d. repeal of the Clayton Act.
An unanticipated shift to a more expansionary macro-policy that leads to a higher-than-expected rate of inflation will
a. place downward pressure on prices. b. temporarily reduce unemployment. c. temporarily reduce output. d. temporarily reduce the natural rate of unemployment.
If a price above equilibrium is imposed on a market, welfare will increase when the price control is lifted. If a price control is below equilibrium and then is repealed and allowed to rise to equilibrium, welfare in the system will increase.
A. Both statements are false. B. The first statement is true and the second is false. C. Both statements are true. D. The first statement is false and the second statement is true.
Refer to the table shown. If total output is 41, level of employment is:Number of workersMarginal product of workers1527384105116775839010?1
A. 4. B. 5. C. 6. D. 7.