Can unions increase productivity? Explain
What will be an ideal response?
Unions can increase productivity, but they can also decrease productivity. Featherbedding is a practice that reduces labor productivity. However, if unions create greater job satisfaction or reduce labor turnover, it is possible that productivity will be increased.
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Economic growth tends to be higher in a country that
A) has an open economy that encourages the rapid spread of technology. B) does not grant patents to investors. C) has a low saving rate. D) has an undeveloped system of property rights.
Which of the following is true?
i. A price ceiling set above the equilibrium price has no effects. ii. A price ceiling set below the equilibrium price creates a surplus. iii. A price floor set above the equilibrium price has no effects. A) only i B) only ii C) only iii D) i and ii E) ii and iii