Which of the following methods is used by unions to increase the demand for the labor of its members?
A) Decrease the marginal product of union members.
B) Support minimum wage laws.
C) Oppose import restrictions.
D) Decrease demand for the good produced.
B
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A change in the euro-dollar exchange rate from $1 per euro to $2 per euro would ____ the U.S. price of German goods, ____ the number of German goods that would be demanded in the U.S. a. decrease; reducing
b. decrease; increasing. c. increase; reducing. d. increase; increasing.
The logic behind the catch-up effect is that
a. workers in countries with low incomes will work more hours than workers in countries with high incomes. b. the capital stock in rich countries deteriorates at a higher rate because it already has a lot of capital. c. new capital adds more to production in a country that doesn't have much capital than in a country that already has much capital. d. None of the above is correct.
In Ireland, a pint of beer costs 3 euros. In Australia, a pint of beer costs 4 Australian dollars. If the exchange rate is .8 euros per Australian dollar, what is the real exchange rate?
a. 4/2.4 pints of Irish beer per pint of Australian beer b. 3/3.2 pint of Irish beer per pint of Australian beer c. 3.2/3 pints of Irish beer per pint of Australian beer d. 2.4/4 pints of Irish beer per pint of Australian beer
Your state department of transportation is considering installing toll booths with gates on a quiet section of highway. If this is done, a good that is currently a:
A. nonexcludable good will become an excludable good. B. public good will become a private good. C. rival good will become an excludable good. D. nonrival good will become a rival good.