Labor unions tend to drive wages higher than they would be otherwise.
Answer the following statement true (T) or false (F)
True
You might also like to view...
From an economic standpoint, if one believes that a group would be better off from a policy change, this implies that _____
a. a majority of the group would be better off because of the change b. a super-majority of the group would be better off because of the change c. everyone in the group would be better off because of the change d. the total effect of the change is positive, even if most individuals are not better off
An individual has an initial wealth of $35,000 and might incur a loss of $10,000 with probability p. Insurance is available that charges $gK to purchase $K of coverage
What value of g will make the insurance actuarially fair? If she is risk averse and insurance is fair, what is the optimal amount of coverage?
A bank that specializes in granting loans to firms in a specific line of business:
A. may increase both its operating cost and its credit risk. B. may increase its operating cost and decrease its credit risk. C. may decrease its operating cost and decrease its credit risk. D. may decrease its operating costs and increase its credit risk.
You and a friend are arguing over the issue of the nonneutrality of money. You believe that money is not neutral, and to prove your point you would cite all of the following except
A. the fact that every recession was preceded by a drop in the money supply. B. a change in the leadership of the Fed and its policy was followed by noticeable changes in the money supply and a recession or inflation. C. a change in monetary institutions preceded a boom or recession. D. large gold discoveries that increased the money supply preceded an economic boom.