Name and discuss reasons for the development of labor unions in the United States.
What will be an ideal response?
Labor unions developed in the United States in response to unsafe and unsanitary working conditions, low wages, and other forms of worker exploitation in factories.
Workers, including children, often operated dangerous machinery for 14 hours per day,
7 days a week. Labor unions organized in order to advocate on behalf of the factory
works with business owners for reasonable wages and safer working conditions.
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If positive externalities are present in a free market, ________ at any output level
A) the marginal cost of production equals the average cost of production B) the marginal social cost of production exceeds the marginal private cost C) the marginal private benefit from production equals marginal social benefit D) the marginal social benefit of production exceeds marginal private benefit
The fastest growing money supply since 1970 has been
a. M1 b. M2 c. M3 d. M1 and M3 (approximately the same rate) and not M2 because M2 is part of M3 e. M1, M2, and M3 which, by definition, must grow at the same rate