Unions have had an impact on U.S. firms by supporting all of the following types of legislation except
A. Health and education programs.
B. Civil rights legislation.
C. National security laws.
D. Minimum wage laws.
Answer: C
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Read the following statements and determine if they are true or false
I. According to the quantity theory of money, an increase in the growth rate of the quantity of money increases inflation in the long run. II. Historical and international data show that there is no correlation between inflation and money growth. A) I and II are both true. B) I and II are both false. C) I is true and II is false. D) I is false and II is true.
National health insurance programs:
A. can increase use of health clinics versus traditional village doctors, who often have no medical training. B. are usually too costly for developing nations to implement. C. have solved the problem of providing high-quality care in places like India. D. are always less efficient than privatized programs.
If a perfectly competitive firm raises its price,
a. the quantity demanded of its good falls because the firm faces a downward- sloping demand curve b. the quantity demanded of its good falls to zero c. new firms will enter, attracted by the higher price d. it loses some of its market share e. other firms in the industry must follow the leader
The situation in which one large firm can provide the output of the market at a lower cost than two or more smaller firms is called ______.
a. perfect competition b. producer surplus c. a natural monopoly d. an illegal barrier