Because labor unions contribute to keeping real wages ________ their equilibrium levels, higher unionization rates will tend to contribute to ________ unemployment rates
A) above; higher
B) above; lower
C) below; higher
D) below; lower
A
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As shown in the figure above, the rent ceiling
A) decreases consumer surplus. B) increases producer surplus. C) decreases deadweight loss. D) increases the quantity of housing rented. E) is efficient.
Equilibrium market prices for capital and labor are $10 and $8, respectively. Then, the economy experiences one or more supply shocks, so that the marginal product of capital is $9, and the marginal product of labor is $6
Assuming that the available quantities of capital and labor are fixed, which of the following is (are) likely to decrease as the economy approaches its new equilibrium? A) economic profits B) real rental price of capital C) total output D) the quantity of capital in use E) none of the above
Employment in manufacturing fell by almost twenty percent between 1980 and 1999
Indicate whether the statement is true or false
The manager of a large luxury hotel chain is currently negotiating a four year contract with a linens supplier. The linens company will supply fresh laundered bedding and towels to the hotel over a four year period; however, the hotel chain can ends its contract with the linens company at the end of the first, second, or third years if the linens company does not supply quality linens. What can
the manager of the hotel chain do to avoid the end-game problem? A) Inform the linens company that the hotel chain will nominate them for a linens industry award if the linens company provides quality linens all four years. B) Pay the linens company in full at the beginning of the first year. C) Pay the linens company in full after the second year. D) Pay the linens company in full at the end of the third year.