If an industrial union would strike if it does not receive a particular wage rate, then the supply curve of labor in this market
a. is horizontal at that particular wage rate until it intersects the original supply of labor curve
b. is vertical at that particular wage rate until it intersects the original supply of labor curve
c. shifts to the left
d. disappears
e. slopes downward
A
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If the quantity of credit supplied in a market exceeds the quantity of credit demanded in the market:
A) the unemployment rate tends to rise. B) the real rate of interest tends to rise. C) the rate of inflation tends to fall. D) the real rate of interest tends to fall.
The Department of Justice generally
a. is not involved in merger policy. b. opposes horizontal mergers but permits conglomerate mergers. c. opposes only mergers that might reduce competition. d. opposes mergers whose apparent motive is obtaining economies of scale.
Unemployment:
A. can have serious social consequences. B. changes primarily because of macroeconomic forces. C. can create uncertainty about the future. D. All of these are true.
Corporations have a separation and control problem because
A) owners and managers frequently have different incentives. B) most of the profits are reinvested. C) the shareholders control the firm. D) taxes are paid only by the board of directors.