A closed shop is a business enterprise in which
A) employees cannot belong to a union when they are employed, and cannot join a union and keep working there.
B) employees must join the union to maintain employment.
C) employees must belong to the union before they can be employed.
D) employees cannot belong to the union when they are hired, but may join the union later and keep their jobs.
Answer: C
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Which of the following businesses have limited liability?
A) Mainline Texaco, a gas station downtown with Frank Jones as proprietorship B) Fakker, Chayse, and Blaimm, partners in medical malpractice law C) StrideRite Shoe Company, Inc., a corporation that produces shoes D) Both answers B and C are correct.
With respect to labor supply, the income effect leads a person to want to work more in order to raise his or her income
Indicate whether the statement is true or false