When a union bargains successfully with employers, in that industry,
a. both wages and unemployment increase.
b. wages increase and unemployment decreases.
c. wages decrease and unemployment increases.
d. both wages and unemployment decrease.
a
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What does the income elasticity of demand measure?
What will be an ideal response?
Perfect substitutes
A) always have indifference curves with slopes of -1. B) always have indifference curves with slopes of 1. C) have fixed rates of trading off one good for another. D) have horizontal indifference curves.
Peter Schran plays no favorites. It's one price for all customers. Under this circumstance, we know that
a. MR = MC b. P = MC c. TR = TC d. P = AR e. P = TR
When markets open up to international trade, we know that total surplus will rise
a. True b. False Indicate whether the statement is true or false