If the labor force grows faster than the number employed, the
a. unemployment rate will fall.
b. unemployment rate will rise.
c. labor force rate will rise.
d. employment rate will rise.
b
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A nation will import a good if its no-trade, domestic
A) price is equal to the world price. B) price is less than the world price. C) price is greater than the world price. D) quantity is less than the world quantity. E) quantity is greater than the world quantity.
Minimum wages are examples of
A) a price floor. B) a price ceiling. C) the rationing function of prices not working. D) government increasing the demand for certain products.
A graph with a positive slope indicates that the variables depicted on the axes move in the same directions
a. True b. False Indicate whether the statement is true or false
What effect does raising union wages have on unemployment?
a. It reduces unemployment throughout the economy. b. It reduces unemployment in the union sector. c. It increases unemployment throughout the economy. d. It increases unemployment in the union sector.