Unions whose membership is confined to workers with a particular skill are known as
a. industrial unions
b. limited unions
c. regional unions
d. craft unions
e. inclusive unions
QUESTION 2Which of the following best expresses the benefit from international trade?
a. With trade, each country can concentrate on producing those goods and services that it produces most efficiently.
b. With trade, a country can increase its political involvement on a global scale.
c. Increased U.S. trade would improve high-tech exports but not agricultural exports.
d. Increased trade would increase U.S. exports and decrease U.S. imports.
e. Increased trade implies that exports of goods and services will always equal imports of goods and services.
QUESTION 3A labor union is a group of
a. employees who join together to improve their working conditions
b. firms that join together to hire workers
c. firms that work together to negotiate better prices in the market
d. farmers who work together to receive better prices for their agricultural products
e. workers and firm owners who join together to improve working conditions
QUESTION 4International trade equalizes the opportunity cost of producing any good around the world.
a. True
b. False
QUESTION 5Most collective bargaining agreements in the United States are reached
a. only after binding arbitration
b. only after a strike
c. without a strike
d. only after a strike lasting at least three weeks
e. only after government intervention to avoid a strike
QUESTION 6International trade increases world economic efficiency for the same reasons that domestic trade increases national economic efficiency.
a. True
b. False
QUESTION 7Most labor negotiations in the United States end without a strike.
a. True
b. False
QUESTION 8Since the replacement of AFDC with TANF the welfare rolls have grown in the United States.
a. True
b. False
QUESTION 9Since about 1980,
a. production worker pay in the U.S. has grown faster than CEO pay
b. the typical U.S. CEO has come to earn more than the typical NBA basketball player
c. CEO pay in Europe has grown much faster than CEO pay in the U.S.
d. CEO pay in the U.S. has grown to a very large multiple of production worker pay
e. the ratio of CEO pay to production worker pay in the U.S. has not changed much, although both groups receive much high pay now
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