Consider the above figure, which displays the situation faced by a union employed by a firm with the labor demand curve D
This union has total membership of Q3 workers, but its single wage setting goal is to maximize wages for the Q1 members with the most seniority. If the union managers accomplish this goal, what occurs? A) All of the union members will be employed at the wage rate W3.
B) All of the union members will be employed at the wage rate W1.
C) The senior members of the union will receive a wage equal to W3, but Q3 union members will be unemployed.
D) The select group of senior union members will have work and receive a wage of W3, but Q3 -Q1 union members will not be employed by the firm.
D
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Which of the following does not arise from price discrimination?
A) an increase in quantity sold B) an increase in profits C) an increase in consumer surplus D) an increase in producer surplus
Young Faces Forever is a skin care company based in the United States that wants to enter the Japanese market. Suppose the managers of Young Faces are aware that there are significant social customs in Japan regarding skin products and these customs are unknown to the managers of Young Faces. All else equal, which of the following entry methods is the least likely to be successful for Young Faces?
A) partnership B) joint venture C) independent entry D) merger
If the inflation rate is decreasing while unemployment is decreasing: a. the short-run Phillips curve must have shifted right
b. the short-run Phillips curve must have shifted left. c. it involved a movement along the short-run Phillips curve. d. it would be inconsistent with any possible Phillips curve scenario.
If tax revenues from a cigarette tax are used to pay for healthcare expenses related to lung cancer, the cigarette tax could be justified using the __________
Fill in the blank(s) with correct word