The future of private sector labor unions is
A. bright because of the increased availability of undocumented workers from other countries.
B. bleak because of the growing economic importance of small employers in service industries.
C. bright because of the success of the PATCO strike.
D. bleak because of the recent increases in the minimum wage earned by non-union workers.
Answer: B
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Sarah consumes only strawberries and cream, and she is spending all of her income. Her marginal utility of her last dish of strawberries is 200 and her marginal utility of her last pint of cream is 200
The price of strawberries is $1.00 per dish and the price of cream is $2.00 per pint. To maximize her utility, Sarah should A) buy more strawberries and less cream. B) buy more cream and less strawberries. C) not change her purchases of strawberries and cream. D) definitely buy no cream at her consumer equilibrium.
Under a fixed exchange rate system, the central bank of a country experiencing a balance of payments surplus will:
A) increase the supply of domestic currency to prevent currency depreciation. B) increase the demand for domestic currency to prevent currency depreciation. C) increase the supply of domestic currency to prevent a currency appreciation. D) increase the demand for domestic currency to prevent a currency appreciation.
Real-wage unemployment can be caused by which of the following?
A. Retraining programs B. Low-interest student loans C. Minimum wage laws D. None of these cause real-wage unemployment.
In the Keynesian model in the long run, an increase in the money supply will raise
A. the price level but not the level of output. B. the level of output but not the price level. C. neither the level of output nor the price level. D. both the level of output and the price level.