How can restricting entry into a union help boost members' wages without the union specifically setting wages?
What will be an ideal response?
With union membership limited, the quantity of labor available to employers is limited to that quantity supplied. Then, if the demand for labor increases over time, so will the wages paid to the union's members.
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
Counting discouraged workers as unemployed would
A) lower the measured unemployment rate. B) raise the measured unemployment rate. C) raise the natural unemployment rate. D) raise the full employment rate. E) not change the measured unemployment rate.
During the recent past, production and income have grown faster than population in highly developed economies because
A. of the availability of expensive and ineffective birth control devices. B. of rapid technological advancements. C. accumulation of both physical and human capital has slowed down. D. famine, war, and pestilence have greatly reduced the population.
International trade will:
A. decrease total surplus, which creates a role for government. B. increase total surplus only if the country is a net-importer of a particular good. C. create more efficiency. D. increase total surplus only if the country is a net-exporter of a particular good.