If the government intervenes in a labor dispute and requires settlement through binding arbitration, what takes place?
a. A neutral third party makes a decision that both parties must accept.
b. A neutral third party makes a decision that both parties may reject.
c. One party sues the other in court.
d. The two parties negotiate an agreement without assistance and both must accept it.
e. The two parties negotiate an agreement with assistance from their attorneys and both must accept it.
A
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A discouraged worker is: a. one who opts to quit work to attend college
b. one who opts to quit searching for work after unsuccessfully seeking employment. c. a part-time worker who would like to work more hours. d. none of the above.
The central prediction of the Hecksher-Ohlin theorem is that
a) international goods prices equalize under foreign trade b) comparative advantages depend on the abundance of factor inputs c) international trade disperses technology, speeding convergence d) all nations move beyond their production possibilities sets with free trade e) exchange rates adjust to ensure purchasing power parity