With a union, the total number of workers hired is where
A. The marginal wage is negative.
B. Employment is lower than at the competitive equilibrium.
C. Employment and wages are both at the maximum possible levels.
D. Employment could not be increased by reducing the wage rate.
Answer: B
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"Pork-barrel" legislation that contains funding for hundreds of earmarks throughout numerous states often reflects:
A. the paradox of voting. B. logrolling. C. the benefits-received principle. D. adverse selection.
An import quota
A) is a price ceiling imposed on an imported good. B) is a price floor imposed on an imported good. C) is a supply restriction limiting the quantity of a good that can be imported. D) is a legislative requirement stating that firms which import some of their merchandise must hire a certain number of immigrant workers.
The most important determinant of consumption and saving is the:
A. level of bank credit. B. level of income. C. interest rate. D. price level.
The balance-sheet channel of monetary policy works because it can:
A. change the value of a borrower's assets and liabilities, but it can't change a borrower's net worth. B. increase a borrower's asset value but not the burden of his/her liabilities. C. increase a borrower's assets and reduce the cost of his/her liabilities. D. none of the answers given is correct.