The Civil Service Reform Act

question 35

Multiple Choice

The Civil Service Reform Act:

• A)mandates health coverage for all federal workers.
• B)legislates the organizational structure of unions.
• C)includes coverage of secondary boycotts.
• D)replaces the earlier Taft-Hartley Act.
• E)prohibits strikes by federal workers.

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Definitions:

Consumer Surplus

The difference between the maximum amount that consumers are willing to pay for a good or service and the amount they actually pay.

Consumer Surplus

The benefit obtained by consumers because they are able to purchase a product for a price that is less than the maximum price that they are willing to pay.

Equilibrium Price

The rate at which the amount of products offered matches the amount of products consumers want.

Unregulated Market

A market where the government does not impose price controls, quotas, or other restrictions on the forces of supply and demand.