The impact of a strike is limited to the ability of the union to
A) prevent replacement workers from continuing their work.
B) lower its wage demands of non-union members.
C) control the pension fund.
D) none of the above.
Answer: A
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Suppose that the market demand curve is 
and the market supply curve is 
.
a. Calculate the equilibrium price and output level.
b. Suppose a price ceiling of 6 is imposed. What is the new equilibrium quantity transacted in the market?
c. How does the price consumers pay (including any marginal effort costs) compare to the price firms receive? d. What is the total cost of the additional effort exerted by consumers? What will be an ideal response?
The decrease in the incentive to work created by welfare payments programs
A) only affects low income taxpayers. B) only affects taxpayers but not welfare recipients. C) only affects high income executives. D) affects both taxpayers and welfare recipients.
A Turkish firm exchanges lira (Turkish currency) for dollars. It then uses these dollars to purchase computers from the U.S. These actions decrease U.S. net capital outflow and increase U.S. net exports
a. True b. False Indicate whether the statement is true or false
The WTO
A) is an affiliate of the World Bank. B) is an organization created to oversee NAFTA. C) was established to resolve trade disputes among member nations. D) provides low interest loans to member nations to help develop their export industries.