Week 11 Final Exam - Economics

1. Which statement is true?A) Today more workers in the U.S. are members of labor unions than any time in our history.B) Today labor unions are weaker than any time in the last 100 years.C) No major labor union has called a strike since the 1940s.D) Labor unions are relatively strong in the public (government) sector.2. Exclusive union strategy involvesA) increasing the demand for the final product, thereby increasing the demand for labor.B) restricting the supply of union labor.C) setting job standards and entry qualifications for members.D) organizing all workers and bargaining for a wage.E) negotiating only after a strike has been called.3. An example of an exclusive union would beA) the International Brotherhood of the Teamsters.B) the Communications Workers of America.C) the American Medical Association.D) the United Steel Workers.4. In which one of these years was labor union membership the highest?A) 1940B) 1960C) 1980D) 19905. Which of the following laws stated that attempts to monopolize, conspiracies in restraint of trade, and conspiracies to monopolize were illegal?A) The Federal Trade Commission ActB) The Clayton ActC) The Sherman Antitrust ActD) All of the choices.E) None of the choices6.Until the passage of the Airline Deregulation Act of 1978, the Civil Aeronautics Board