How do right-to-work laws diminish union power?

Unions with less members have less influence over management

Do multinationals have more or fewer regulations than corporations that are in just one country

more have to follow rules/taxes in more than country

Why can it be difficult for a sole proprietor to find good employees.

They can not compete with larger companies in benefits

What is the KEY difference between cooperatives and nonprofits?

Coops benefit their members; nonprofits benefit the public.

Why might a limited partnership have greater success raising capital than a general partnership

increased attractiveness due to limits on liability

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Econ Unit 3 Review Spring 2018

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Questions 20

Answers

1
A discouraged worker is one whom
does not get the raise they want
has a job they think is below them
is working in a job for which they are overqualified.
has quit looking for a job
2
Which type of coop would attract people who wanted to pay a lower price for organic food?
service cooperative
producer cooperative
consumer cooperative
labor cooperative
3
demand of labor is set by the demand of another good or service, so it is called
derived demand
demon demand
labor of demand
detour of demand
4
Which type cooperative would attract people who needed help preparing their income tax returns?
consumer cooperative
service cooperative
producer cooperative
labor cooperative
5
In the 1800s, why was there a greater need for labor unions than there is now?
Factories were safe.
Strong child-labor laws had been passed.
Workers worked longer hours.
Wages were reasonable.
6
Over the past 20 years, the U.S. economy has shifted to a _____________ economy
industrial-based
high-tech
service-producing
agricultural-based
7
What usually happens to the equilibrium wage when demand for workers is low and supply is high?
It gets higher.
It does not change.
It gets lower.
It moves below demand.
8
How do right-to-work laws diminish union power?
Unions with more members have less influence over management
Unions with less members have less influence over management
Non union workers have more influence over management.
Management prefers negotiating with unions with more members
9
a business owned by an individual
sole proprietorship
general partnership
limited partnership
corporation
10
What does a partner in a LLP have that a limited partner in a limited partnership doesn't have
share of profits
business involvement
investment in the partnership
limited liability
11
Do multinationals have more or fewer regulations than corporations that are in just one country
The same-they follow the rules of the country where HQ is
fewer, because they pay less taxes than regular corporations
More as they cannot have mergers
more have to follow rules/taxes in more than country
12
What type of merger is it if I sell stone and tile and buy a quarry?
a vertical merger.
a horizontal merger.
a conglomerate.
a multinational corporation.
13
Why can it be difficult for a sole proprietor to find good employees.
They can not compete with larger companies in benefits
People do not like to have only one boss.
Sole proprietorships keep too much money for themselves
Not enough people in the labor market
14
Who makes all major decisions for a corporation ?
The Board of Education
The Board of Directors
The Chief Financial Officer
The President of the Company
15
a business buys new computers, how might its productivity of labor be affected?
It would double.
It would increase.
It would stay the same.
It would decrease.
16
What is the KEY difference between cooperatives and nonprofits?
Non profits are goods centered Coops are service centered
Coops benefit their members; nonprofits benefit the public.
Coops benefit the public; nonprofits benefit their members.
Non profits are service centered Coops are goods centered
17
Hiring more part time workers help
US Companies so they can outsource the jobs
workers so they do not have to work as much
Unions so they do not have to represent so many people.
US companies lower costs
18
When a strike has continued for a long time what might both sides do?
Start meditating
Hire new employees
Riot
Enter mediation
19
Why might a limited partnership have greater success raising capital than a general partnership
increased probability of corporate acquisition
increased share of profits with more investors
increased access to corporate funds
increased attractiveness due to limits on liability
20
Why would someone be willing to share business ownership by forming a general partnership?
to enjoy a greater share of profits
to limit liability
to benefit from being connected to a well-known brand name
to avoid paying additional income tax

Econ Unit 3 Review Spring 2018 Flashcards | StudBud