In Belgium, Norway, and Sweden, the percentage of workers who belong to unions is
a. almost zero.
b. less than it is in the United States.
c. about the same as it is in the United States.
d. greater than it is in the United States.
d
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You get bit by your neighbor's dog, and incur $200 in emergency medical expenses. What happens to GDP?
A) It increases by $200. B) It decreases by $200. C) It remains unchanged. D) It depends upon whether you or the dog owner pays the medical bill.
There are only two firms in an industry with demand curves q1 = 30 - P and q2 = 30 - P. Both have no fixed costs and each has a marginal cost of 10 per unit produced. If they behave as profit-maximizing price takers, each produces 20 units and sells them at a price of 10 so that each firm makes zero economic profits. If they formed a cartel, the profit-maximizing price is
A) 10. B) 15. C) 20. D) 25.