Suppose a union successfully negotiates for its members a wage rate that is above the competitive wage rate, then
A. there will be an excess supply of labor.
B. there will be a surplus of jobs.
C. antitrust laws become effective.
D. there will be downward pressure on the wage rate until equilibrium is established.
Answer: A
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What will be an ideal response?
When the Mexican peso gets "stronger" relative to the dollar,
a. the U.S. trade deficit with Mexico rises. b. the U.S. trade deficit with Mexico falls. c. the U.S. trade deficit with Mexico is unchanged. d. None of the above necessarily happens.
Public finance
A. is not like public economics. B. develops principles for understanding the economic role of government. C. only works for local and state governments. D. all of these answer options are correct.
The multiplier is larger if the
a) marginal propensity to consume is larger b) marginal propensity to save is larger c) income tax rate is higher d) marginal propensity to import is larger