If there are powerful unions in a labor market, the use of the supply-and-demand model to analyze labor markets
A. will cause you to believe the wage will be higher than it is.
B. will cause you to believe the wage will be lower than it is.
C. will cause you to believe that fewer people will be hired than will be.
D. is completely accurate.
Answer: A
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None of the transition economies avoided the transition recession
a. True b. False
Which of the following best explains why international trade exists?
a. International boards of trade define standard practices to guarantee free exchange. b. Newer methods of transportation have enabled timely shipping of agricultural goods. c. The development of the Internet since 1990 has increased exchange among countries. d. Countries are willing to exchange goods and services they have for those they lack.
Historically, real income per person:
A. barely changed at all until the 1800s but began to increase after. B. has steadily increased at an average rate of 2 percent C. has barely changed at all worldwide. D. barely changed at all until the 1500s but began to increase after.
Peruvian economist Hernando de Soto claims the ________ in Latin America results in "dead capital."
A. strong titling system B. generally weak currencies C. general lack of strong national defense D. weak titling system