In November 2008, the air traffic controllers who work at Guam became unionized. What would NOT be a way for the union to influence labor demand?
A) Have monthly training which improves the marginal productivity of the air traffic controllers.
B) Support minimum wage laws.
C) Creating job certification which limits the number of newly certified air traffic controllers.
D) Lobby the government to limit who can apply to be an air traffic controller in Guam to those who are certified through the union.
C
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The gender wage gap in Japan is smaller than in the U.S.; in Scandinavia it is wider
Indicate whether the statement is true or false
Which statement most accurately defines economic growth?
a. a sustained increase in a country’s production of services and goods b. how much an economy produces at its potential output c. a nation’s natural rate of output of goods and services d. the application of new knowledge that creates or improves products
When the price of TVs goes up and fewer TVs are purchased, this is representative of the
A. law of market operations. B. law of demand. C. law of supply. D. law of increasing costs.
When there is an external cost, the unregulated market
A. minimizes public welfare. B. overproduces the good or service. C. underproduces the good or service. D. reaches the most efficient solution.