The United Automobile Workers union can select the most favorable point on the demand curve for labor and the auto manufacturing companies can do nothing in response.
Answer the following statement true (T) or false (F)
False
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Assuming that the demand and supply of a good have moved in opposite directions, but by the same amount, the new equilibrium would represent: a. an increase in price and an increase in quantity exchanged
b. no change in price and an increase in quantity exchanged. c. a decrease in price and a decrease in quantity exchanged. d. an indeterminate change in price, but no change in quantity exchanged.
If the demand curve for a product is vertical, then
a. consumers will refuse to bear any share of tax burden. b. producers will bear the larger share of the tax burden. c. consumers will bear the entire tax burden. d. producers and consumers will equally share the tax burden.
Because it is a market economy, in the United States all research and development is done by private business firms
a. True b. False Indicate whether the statement is true or false
How does a mutual fund lower transactions costs through economies of scale?
What will be an ideal response?