If a union insists that the employer hire only union members, this is called a

a. union shop
b. monopsony
c. monopoly
d. open shop
e. closed shop

E

Economics

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If a market is not subject to large, frequent shifts in demand,

a. firms will have a tendency to lower prices to increase market share b. the market will have few firms c. prices will approach equilibrium very slowly d. price leadership will rarely occur e. cheating on collusive agreements is more difficult

Economics

Whether or not a reduction in the budget deficit is a pro-growth measure depends on how the budget deficit shrinks

a. True b. False

Economics