Other things equal, granting unemployment benefits or welfare benefits to striki

Question

Other things equal, granting unemployment benefits or welfare benefits to striking workers
a. reduces strikes since union workers make wages above unemployment
b. reduces strikes since management is more cooperative
c. increases the willingness of management to permit a strike.
d. reduces the costs of a strike to workers and will increase their willingness to strike.

If labor is 80 percent total costs in industry A and 20 percent in industry B, then other things equal, we would expect the elasticity of demand for labor to be
a. uncertain since no general relationship exists between cost shares and elasticities
b. the same
c. greater in B than in A
d. greater in A than in B

Suppose at the current level of labor used, MRP= $100 and MFC= $50. To maximize profits, the firm should
a. shut down
b. reduce the level of labor
c. hire more labor
d. maintain the current level of labor

U.S. job losses cited by anti-trade critics
a. are mostly due to poor training by U.S. firms
b. are mostly a short-term problem in isolated industries
c. are non-existent
d. affect only capital-intesive U.S. industries

Explanation / Answer

1)D 2)D 3)C 4)B

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