The most significant factor enabling unions to negotiate increased wages for its members is likely:
a. that unions increase the demand for labor
b. that unions decrease the supply of labor in the union sector.
c. that unions increase the marginal product of labor.
d. that unions increase the supply of labor in the union sector.
b
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In the figure above, the tariff ________ the domestic production of shirts in the United States by ________ per year
A) increases; 8 million B) decreases; 16 million C) increases; 4 million D) decreases; 8 million
When the slope of the total production curve steepens, it means:
A. the marginal product must be increasing. B. the marginal product must be decreasing. C. diminishing marginal product must hold. D. None of these is true.
The unbalanced development strategy relies on
a. the government broadening its time horizon b. economic dualism, that is, government and the private sector c. the balancing effect of foreign aid and investment d. investments creating new supply capacities, which create new demands, which stimulates investments in new supply capacities e. incentives created by income disparity
Marginal analysis is useful in economics, but not in other areas of life
a. True b. False Indicate whether the statement is true or false