Other things constant, if a labor union is able to successfully increase the wages of autoworkers, there will be
a. an increase in the supply of automobiles causing the price of automobiles to fall.
b. an increase in the supply of automobiles causing the price of automobiles to rise.
c. a decrease in the supply of automobiles causing the price of automobiles to fall.
d. a decrease in the supply of automobiles causing the price of automobiles to rise.
D
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If lenders anticipate no changes in liquidity, information costs, and tax differences, the yield on a risky security should be
A) greater than that on a safe security and the price of a risky security should also be greater than that of a safe security. B) less than that on a safe security and the price of a risky security should also be less than that of a safe security. C) greater than that on a safe security and the price of a risky security should be lower than that of a safe security. D) less than that on a safe security and the price of a risky security should be greater than that on a safe security.
Increases in the duration of unemployment may
A. increase the number of discouraged workers. B. reflect a general downturn in economic activity that depresses job openings. C. increase the unemployment rate. D. all of these.
A situation in which a private cost diverges from a social cost is
A. a transactions cost. B. an internality. C. an externality. D. internal costs.
Which economist stressed the importance of the entrepreneur in economic growth?
A. Joseph Schumpeter B. Thomas Malthus C. Adam Smith D. Karl Marx