When a union raises the wage above the equilibrium level, it
a. reduces both the quantity of labor supplied and the quantity of labor demanded.
b. reduces the quantity of labor supplied and raises the quantity of labor demanded.
c. raises the quantity of labor supplied and reduces the quantity of labor demanded.
d. raises both the quantity of labor supplied and the quantity of labor demanded.
c
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Changes in interest rates, all else held constant, cause a shift in ________.
A. the investment demand curve, but not the aggregate demand curve B. the aggregate demand curve, but not the investment demand curve C. the investment demand curve and the aggregate demand curve D. either the investment demand curve or the aggregate demand curve
Moving along the short-run Phillips curve, as the unemployment rate increases, the inflation rate
A) initially increases and then decreases. B) remains unchanged. C) increases. D) decreases. E) initially decreases and then increases.
Which of the following statements is true?
a. All people in poverty are on welfare. b. Unemployment compensation is an example of an in-kind transfer. c. Temporary Assistance to Needy Families (TANF) is an example of a cash payment made by government to the impoverished. d. After cash assistance and in-kind transfers are considered the distribution of income in the United States is more unequal. e. All of these.
Sandra uses her sewing machine, thread, and yards of denim to produce jean skirts. The sewing machine is an example of a. labor
b. physical capital. c. human capital. d. natural resources.