To Control Production Costs in the Face of Huge Intraday

question 208

Multiple Choice

To control production costs in the face of huge intraday fluctuations in electricity demand, electricity companies often

• A) operate all plants at full capacity.
• B) operate all plants at less than full capacity.
• C) produce at several plants with different operating costs.
• D) produce at one plant with the lowest possible operating cost.

Understand the role of the National War Labor Board during WWII in resolving labor disputes and legitimizing unions.

Evaluate the influence of major strikes (e.g., General Motors sit-down strike, Great Strike Wave of 1945-46) on unionization and labor-management relations.

Examine the evolution of labor-management relations from the late 1900s to the 21st century, including the impacts of concession bargaining and the decline of manufacturing.

Distinguish between different models of unionism (craft, industrial, general) and their transitions over time.

---

Definitions:

Money Supply

The entire stock of currency and other liquid instruments circulating in a country's economy as of a particular time.

Fed

Short for the Federal Reserve System, it's the central banking system of the United States, responsible for monetary policy, including regulating banks, managing inflation, and influencing interest rates.

Reserve Requirement

The minimum amount of reserves that a bank must hold against its deposits, as mandated by central banking authorities to ensure liquidity.

Discount Rate

The rate of interest applied to loans given to commercial banks and other financial institutions by their local Federal Reserve Bank's credit facility.