If a union restricts the supply of labor but cannot change the demand for labor, the union ________ the wage rate and ________ the level of employment
A) raises; decreases
B) raises; increases
C) lowers; decreases
D) lowers; increases
A
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The initial impact of the Fed's open market sale of government securities to banks is
A) an increase in the quantity of money by some multiple of the dollar volume of the sale. B) an increase in bank deposits at the Fed. C) a decrease in the quantity of money by some multiple of the dollar volume of the sale. D) a decrease of the banking system's reserve deposits at the Fed.
Low cost strategies are usually found in industries where
a. Products are not particularly differentiated b. Price competition tends to be fierce c. Both a and b d. None of the above
The major advantage of the corporation is
a. limited liability for owners. b. greater profit incentive than the other forms of business organization. c. lower taxes for owners, who are taxed only once. d. ability of owners to have hands-on management of the firm.
Which of the following was a result of the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA)?
A. All checkable deposits, whether at commercial banks, savings banks, savings and loan associations, or credit unions will have the same reserve requirements. B. The Fed has the power to change the reserve requirement on checkable deposits at commercial banks but not credit unions. C. The Fed has the power to set the reserve requirement on checkable deposits at credit unions, but once set, the reserve requirement cannot be changed for two years. D. Commercial and savings banks are regulated by the Fed, but credit unions and state banks are not subject to regulations, but must pay dues to the Fed.