Test #4 Economics

An airline selling tickets cheaper to someone who purchased them in advance is a form of___________.

• price floor

• price discrimination

• marketed racism

• market influx

Who tries to prevent market failures due to negative externalities?

• The FBI

• Merchant Marines

• The Government

• Porch Pirates

When pulled over by an officer you should keep a level head and follow directions.

• True

• False

Illegal arrangement under which workers must join a union before they are hired.

• ice cream shop

• shut em down open up shop

• closed shop

• union shop

Process of resolving a dispute by bringing in a neutral third party.

• acclaim

• cease and desist order

• injunction

• mediation

What promotes competition and enables consumers to make well informed decisions?

• public disclosure

• mediation

• closed shop

• union

What does congress pass in order to stop or prevent monopolies?

• trade emnargoes

• anti monopoly legislation

• border restrictions

• affiliates

A ruling requiring a business to stop an unfair practice that reduces or limits competition.

• claims report

• partner policy

• cease and desist order

• grievance form

Part of economic theory dealing with the economy as a whole and decisions made by big entities like the government and unions.

• microeconomics

• macroeconomics

• market economy

Labor union whose workers perform the same kind of work.

• trade or craft union

• credit union

• commerce union

• equity union