What percentage of the non-farm labor force in the United States belonged to a labor union in 2012?
a. less than 10 percent
b. approximately 11 percent
c. approximately 28 percent
d. more than 40 percent
B
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During the Great Depression we observed:
a. higher prices. b. higher real wages. c. lower output. d. higher money wages. e. both b and d.
An economy in which output has decreased and prices have increased would suggest that there has been a:
A. positive supply side shock. B. negative supply side shock. C. positive demand side shock. D. negative demand side shock.
The Department of Justice generally
a. is not involved in merger policy. b. opposes horizontal mergers but permits conglomerate mergers. c. opposes only mergers that might reduce competition. d. opposes mergers whose apparent motive is obtaining economies of scale.
According to the infant-industry argument, protection should be withdrawn from an infant industry when the companies in the industry
A) are listed on the domestic stock exchange. B) become profitable. C) double their sales revenues. D) reach a sufficient size to compete with foreign firms.