An appeal to consumers to purchase union-made products represents an attempt to
a. increase the supply of union labor
b. increase the demand for union labor
c. decrease the supply of union labor
d. decrease the quantity demanded of union labor
e. decrease the demand for union labor
B
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If the balance on the current account in the United States is $750 billion, which of the following is most likely to be true?
A) The balance on the financial account is negative. B) The trade balance is negative. C) The balance on the capital account is positive. D) Net foreign investment is negative.
Explain whether you agree or disagree with the following statement: "The reason that inflation is bad is because it increases the cost of living—the costs of goods and services we buy—without increasing income in general."
What will be an ideal response?
Is peak pricing economically efficient? Explain. Give an example to illustrate your answer.
What will be an ideal response?
A competitive firm would benefit from charging a price below the market price because the firm would achieve (i) higher average revenue. (ii) higher profits. (iii) lower total costs
a. (i) only b. (ii) and (iii) only c. (i), (ii), and (iii) d. None of the above is correct.