The ability of unions to successfully raise wage rates is dependent on the
a. higher elasticity of supply for labor
b. lower elasticity of supply for marginal product
c. higher elasticity of demand for the goods produced
d. lower elasticity of demand for the goods produced
e. higher elasticity of demand for labor
D
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Suppose an economy consists of 500,000 individuals 16 years and older, 260,000 are employed, and 21,000 are unemployed but actively seeking work. In this example the labor force participation rate is approximately
A) 4 percent. B) 48 percent. C) 52 percent. D) 56 percent.
The market demand curve is the vertical summation of all individual demand curves.
Answer the following statement true (T) or false (F)
The value of goods produced by coalition A is worth $50, and by coalition B is worth $30 . If together they produce $100 of them, the game is called superadditive
Indicate whether the statement is true or false
During a certain year, the nominal interest rate was 8 percent, the real interest rate was 3 percent, and the CPI was 176.7 at the beginning of the year. The CPI at the end of the year was
a. 196.1. b. 185.5. c. 168.3. d. 159.2.