A Subsidy on a Product Will Generate More Actual Benefit

question 239

Multiple Choice

A subsidy on a product will generate more actual benefit for producers (and less for consumers) when

• A) the supply of the product is relatively inelastic.
• B) the supply of the product is relatively elastic.
• C) the demand for the product is relatively inelastic.
• D) either b or c is true

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Definitions:

Union Organizing

The process of forming or joining a labor union to represent employees in negotiations with employers.

Major Objective

The primary goal or aim that an organization or individual seeks to achieve.

National Labor Relations Act

The National Labor Relations Act is a foundational piece of US labor law legislation enacted in 1935 that protects the rights of employees to organize, engage in collective bargaining, and take collective action, including striking if necessary.

Wagner Act

An important piece of labor legislation in the United States that established the rights of employees to organize, bargain collectively, and strike.