Refer to the below graphs. If union workers decide to take more leisure, while the prices of the products produced by union workers increase, this situation is depicted in graph:
A. A
B. B
C. C
D. D
C. C
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If income rises and the demand for a product remains unchanged, the income elasticity of demand for that product is unit elastic
a. True b. False
Implicit costs
a. do not require an outlay of money by the firm. b. do not enter into the economist's measurement of a firm's profit. c. are also known as variable costs. d. are not part of an economist's measurement of opportunity cost.
In the open-economy macroeconomic model, if the supply of loanable funds increases, net capital outflow
a. and the real exchange rate increase. b. and the real exchange rate decrease. c. increases and the real exchange rate decreases. d. decreases and the real exchange rate increases.
A rise in net exports shifts the
A) AD curve leftward. B) AD curve rightward. C) SRAS curve leftward. D) SRAS curve rightward.