Look at the above figure. A union wishes to maximize wage income for employed union members, so it should aim for a wage rate ________ and a number of employed members equal to ________
A) W1, Q3
B) W2, Q2
C) W3, Q1
D) W4, Q3
B
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Answer the following questions:
a. In 2004, four major hurricanes hit Florida. Explain how this destruction of property, and the rebuilding that went on afterward, affected GDP. b. Explain how GDP has trouble accounting for other parts of the economy as well.
Which of the following integration types exploits economies of scope?
A. Vertical integration B. Conglomerate integration C. Cointegration D. Horizontal integration
At the market clearing price
A. the supply and demand curves intersect. B. there is neither a shortage nor a surplus. C. quantity supplied equals quantity demanded. D. all of these are correct.
The portion of consumer surplus that would have existed in a perfectly competitive market but is unobtainable by anyone in society under a monopoly is known as
A. an external cost. B. a deadweight loss. C. an unattainable surplus. D. monopoly profits.