For which of the following questions would consumer sovereignty provide an answer?
a. Will a shovel or bulldozer be used to excavate the ground?
b. Should the government provide trash collection services in the community?
c. Should we have universal health coverage provided by the government?
d. Will large or small cars sell the most this year?
e. Should there be numerous competitors offering long-distance phone service to the consumer?
D
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Which of the following statements presents inaccurate information about the early U.S. labor movement?
a. Courts in the early 19th century often found unions guilty of conspiracy. b. Unskilled factory workers were the primary beneficiaries of early labor gains. c. In the 1820s and 1830s, small craft societies began to coalesce to form larger unions. d. Early unions experimented with collective bargaining, strikes and closed shops.
An economic model can be described as
a. an abstract representation of reality b. a detailed description of some economic phenomenon c. something that is often more complex than the real-world phenomenon it represents d. a vehicle for making positive economic statements e. a vehicle for making normative economic statements