Which of the following will tend to lower the ability of a union to increase the wages of its members?
a. strong competition from nonunion labor
b. threat of a strike
c. increased demand for union labor
d. all of the above
A
Economics
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Which of the following is TRUE regarding the Federal Open Market Committee (FOMC)?
A) It is the main policy-making group of the Congress. B) Representatives from each state control its operation. C) It meets about every six weeks to decide on monetary policy. D) Both answers A and C are correct.
Economics
If the price elasticity of demand for airline travel is 0.52 in the short run and 1.46 in the long run, then the demand for airline travel is ________ in the short run and ________ in the long run
A) elastic; elastic B) elastic; inelastic C) inelastic; elastic D) inelastic; inelastic
Economics