The Figure Given Below Represents the PPC in Two Nations

question 20

Multiple Choice

The figure given below represents the PPC in two nations - Germany and Korea, producing only two goods, cars and food.Figure 2.4

-Consider a demand curve for peaches. Which of the following movements will be observed if the price of peaches decline at a point in time?

• A)The demand curve will rotate inward at the given price level.
• B)The will be a movement up along the demand curve.
• C)The demand curve will rotate outward at the given price level.
• D)There will be a downward movement along the demand curve.
• E)The demand curve will become steeper.

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Definitions:

Union Shops

Workplaces where all employees must join a union within a certain time period after being hired.

Right-To-Work Laws

Legislation that prohibits compulsory membership in labor unions as a condition of employment.

Exit Mechanism

The method of resolving workplace dissatisfaction by quitting one’s job and searching for another.

Voice Mechanism

Communication by workers through their union to resolve grievances with an employer.