56. In a perfectly competitive labor market, the best protection an employee has against (p. 32) exploitation by his or her employer is: A. Other employees B. The government C. Other employers D. Labor unions Difficulty: Hard 57. In the mainstream school of thought, unions are: (p. 32) A. necessary to correct market imperfections. B. acceptable as a way to correct market imperfections. C. irrelevant in that they have little effect on the competitiveness of the market. monopolies that restrict market competition. D. Difficulty: Easy 58. In the mainstream economics school of thought, labor unions are: (p. 32) A. Necessary to facilitate movement of supply and demand to the optimal market wage. B. Monopolies that try to restrict the supply of labor and benefit only a few at the expense of others. C. Create unproductive conflict. D. Important tools for eliminating capitalism. Difficulty: Moderate 59. In the mainstream economic perspective, the role of the government is to: (p. 33) A. Pass laws that protect worker rights and income. B. Pass laws that protect employer interests. C. Pass laws that promote competition. D. Pass laws that promote good management policies. Difficulty: Moderate
56. (p. 32) In a perfectly competitive labor market, the best protection an employee has against exploitation by his or her employer is: A. Other employees B. The government C. Other employers D. Labor unions Difficulty: Hard 57. (p. 32) In the mainstream school of thought, unions are: A. necessary to correct market imperfections. B. acceptable as a way to correct market imperfections. C. irrelevant in that they have little effect on the competitiveness of the market. D. monopolies that restrict market competition. Difficulty: Easy 58. (p. 32) In the mainstream economics school of thought, labor unions are: A. Necessary to facilitate movement of supply and demand to the optimal market wage. B. Monopolies that try to restrict the supply of labor and benefit only a few at the expense of others. C. Create unproductive conflict. D. Important tools for eliminating capitalism. Difficulty: Moderate 59. (p. 33) In the mainstream economic perspective, the role of the government is to: A. Pass laws that protect worker rights and income. B. Pass laws that protect employer interests. C. Pass laws that promote competition. D. Pass laws that promote good management policies. Difficulty: Moderate