Labor unions cause unemployment because the union contract wage is set
A) below the market wage, causing a shortage of labor.
B) above the market wage, causing a surplus of labor.
C) above the market wage, causing a shortage of labor.
D) below the market wage, causing a surplus of labor.
B
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In the specific factors model, which of the following is treated as a specific factor?
A) land B) labor C) cloth D) food E) technology
Refer to the above figure. A long-run equilibrium in monopolistic competition is pictured by
A) Panel A. B) Panel B. C) Panel C. D) Panel D.
Which of the following was an effect of the affordable housing law in the cities Palo Alto, Laguna Beach, and Irvine?
a. It imposed a per-unit tax on builders of mid-range houses. b. The law had a significant impact on the mid-range houses. c. It imposed a per-unit tax on builders of expensive new houses. d. The law had a significant impact on the supply of mid-range houses.
U.S- based Dell sells computers to an Irish company that pays with previously obtained U.S. currency. This exchange
a. increases U.S. net capital outflow because the U.S. acquires foreign-owned assets. b. decreases U.S. net capital outflow because the U.S. acquires foreign-owned assets. c. increases U.S. net capital outflow because the U.S. sells capital goods. d. decreases U.S. net capital outflow because the U.S. sells capital goods.