From an economic perspective, the efforts of professional football, baseball, and basketball players in the United States to win the right to become free agents was really an effort to
A. Reduce the supply of professional players and thus increase wages.
B. Raise wages to competitive levels.
C. Raise wages above the level of the players' MRP.
D. Raise wages to the level of the players' MRP.
Answer: D
You might also like to view...
The following equations represent the demand and supply for silver pendants
QD = 50 - 2P QS = -10 + 2P What is the equilibrium price (P) and quantity (Q - in thousands) of pendants? A) P = $20; Q = 15 thousand B) P = $50; Q = 10 thousand C) P = $10; Q = 30 thousand D) P = $15; Q = 20 thousand
A decrease in wealth would cause the IS curve to
A) shift up and to the right. B) shift down and to the left. C) remain unchanged. D) shift up and to the right only if people face borrowing constraints.
Monetarists believe that
a. velocity is independent of the money supply b. the transactions demand for money influences the velocity of money c. the economy does not always operate at full employment d. velocity is constant if the money supply is constant e. velocity varies directly with the money supply
Along a short-run Phillips curve, a higher rate of inflation is associated with a lower unemployment rate.
Answer the following statement true (T) or false (F)