Union leaders who focus on increasing the size of their union will be aggressive in demanding higher wages.
Answer the following statement true (T) or false (F)
False
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Which of the following correctly expresses the Fisher equation?
A. r = i - ?e B. i = r - ?e C. r = i + ?e D. i = r + ?e
In a small Asian country, it is estimated that a $10,000 increase in capital per hour worked will increase real GDP per hour worked by $600. Based on this information, what is the slope of the per-worker production function in this range?
A) 0.06 B) 6.6 C) 66.6 D) 666
If the labor market worked efficiently, then an effective minimum wage law would:
A. cause unemployment. B. hold wages higher than the equilibrium price. C. help those who were employed at that price. D. All of these statements are true.
Refer to Figure 9.1. The firm's profit stays the same whether it produces:
A. 0 or 50 units of output.
B. 50 or 85 units of output.
C. 0 or 85 units of output.
D. 0, 50 or 85 units of output.