Which of the following best describes trends in unionization and immigration in the 1920s?
a. Immigration was restricted and unions decreased
b. Immigration was encouraged and unions increased
c. Immigration was encouraged while the number of union members decreased
d. Immigration was discouraged while the number of union members increased
a. Immigration was restricted and unions decreased
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The slope of a production possibilities frontier that displays increasing opportunity cost is
A) positive and constant. B) negative and constant. C) steeper near the horizontal intercept than near the vertical intercept. D) steeper near the vertical intercept than near the horizontal intercept.
Refer to the below graph of the representative firm in monopolistic competition. Point b indicates:
A. A situation where the firm is earning economic profits
B. The price-output combination that yields maximum profits
C. A point that cannot be the long-run equilibrium point
D. The lowest possible cost of the firm's product