As production of a good increases, opportunity costs rise because:
a. there will be more inefficiency. b. people always prefer having more goods.
c. of inflationary pressures. d. workers are not equally suited to all tasks.
d
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Which of the following is correct?
a. Union membership in the United States peaked in the 1940s and 1950s. b. Unions play a larger role in the United States than in European countries such as Belgium, France, and Germany. c. Because of the popularity of unions, most workers in the United States discuss their wages, benefits, and working conditions with their employers as a group. d. Collective bargaining is the process by which unions negotiate membership dues with the National Labor Relations Board.
Jan heads to the store to buy burgers for dinner. Seeing a sale on hot dogs, she buys those instead. The change in her demand for burgers is due to which factor?
A. Preferences B. Income C. Prices of related goods D. Number of buyers