Author Question: Strikes are expensive for a. workers only because their income falls b. employers only because ... (Read 73 times)

dalyningkenk · **on:** Jun 30, 2018

Strikes are expensive for
a. workers only because their income falls
b. employers only because their revenue falls
c. the public only because output falls
d. both the public and employers because workers are compensated by the union for lost income
e. workers, employers, and the public

Question 2

For each watch Denmark produces, it gives up the opportunity to make 50 pounds of cheese. Germany can produce one watch for every 100 pounds of cheese it produces. Which of the following is true with regard to opportunity costs in the two countries?
a. The opportunity cost of producing watches is lower in Denmark.
b. The opportunity cost of producing cheese is lower in Denmark.
c. The opportunity cost of producing watches is identical in both countries.
d. It is impossible to compare opportunity costs because the two countries use different currencies.
e. In Germany the opportunity cost of producing one pound of cheese is one watch.