Question 1. Which statement is true? A) Today more workers in the U.S. are members of lab

1. Which statement is true?
A) Today more workers in the U.S. are members of labor unions than any time in our history.
B) Today labor unions are weaker than any time in the last 100 years.
C) No major labor union has called a strike since the 1940s.
D) Labor unions are relatively strong in the public (government) sector.

2. Exclusive union strategy involves
A) increasing the demand for the final product, thereby increasing the demand for labor.
B) restricting the supply of union labor.
C) setting job standards and entry qualifications for members.
D) organizing all workers and bargaining for a wage.
E) negotiating only after a strike has been called.

3. An example of an exclusive union would be
A) the International Brotherhood of the Teamsters.
B) the Communications Workers of America.
C) the American Medical Association.
D) the United Steel Workers.

4. In which one of these years was labor union membership the highest?
A) 1940
B) 1960
C) 1980
D) 1990

5. Which of the following laws stated that attempts to monopolize, conspiracies in restraint of trade, and conspiracies to monopolize were illegal?
A) The Federal Trade Commission Act
B) The Clayton Act
C) The Sherman Antitrust Act
D) All of the choices.
E) None of the choices

6.Until the passage of the Airline Deregulation Act of 1978, the Civil Aeronautics Board controlled all of the following except
A) fares.
B) assigned routes.
C) profits.
D) entry into the industry.

7. The Clayton Act prohibited
A) interlocking directorates.
B) all forms of monopoly.
C) foreign control of U.S. corporations.
D) false and deceptive advertising.

8. Which statement is true?
A) Microsoft is subject to American antitrust laws, but not those of Europe, Asia, or elsewhere.
B) Microsoft has never been involved in an antitrust suit.
C) The European Commission fined Microsoft over $600 billion for its anticompetitive behavior.
D) Microsoft has always gone out of its way to be helpful to its competitors.

9. A monopolist operates at the minimum point of her ATC curve
A) only in the short run.
B) only in the long run.
C) in both the short run and the long run.
D) in neither the short run nor the long run.

10. Which of the following is characteristic of a monopoly?
A) The absence of political power
B) Close substitute products
C) The ability to make an economic profit in the long run
D) Operating at peak efficiency.

(I will send the image)

11. This firm will charge a price of
A). $8.
B) $9.65.
C) $10.
D) $12.
E) $16

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