The introduction of a union into an industry creates a
a. surplus of labor and so raises unemployment.
b. surplus of labor and so reduces unemployment.
c. shortage of labor and so raises unemployment.
d. shortage of labor and so reduces unemployment.
a
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You took out a loan one year ago at a nominal interest rate of 7.5%. The CPI stood at 173.2 at the time and you expected it to rise to 178.6 over the year. Today the CPI is actually 179.5
Calculate the expected real interest rate on the loan and the real interest rate on the loan.
The marginal physical product of labor for the most recent worker hired by Ajax is 286. If Ajax were to hire an additional worker we would expect the marginal physical product of labor to
A) remain at 286. B) be below 286. C) be above 286 by a small amount. D) be above 286 by a large amount.
Which of the following statements about monetary policy is correct?
a. Whatever happens with aggregate supply and aggregate demand in the long run, monetary policy can be used to prevent inflation from becoming entrenched in the economy in the short and medium term. b. Whatever happens with aggregate supply and aggregate demand in the short run, monetary policy can be used to prevent inflation from becoming entrenched in the economy in the medium and long term. c. Whatever happens with aggregate supply and aggregate demand in the short and medium run, monetary policy can be used to prevent inflation from becoming entrenched in the economy in the long term. d. Whatever happens with aggregate supply and aggregate demand in the medium and long run, monetary policy can be used to prevent inflation from becoming entrenched in the economy in the short term.
Which point or output-combination in the above graph could the nation produce only if it experienced inefficiency?
a. Combination F b. Combination E c. Combination C d. Combination G