In the above figure, which wage rate will maximize union members' income?
A) W1
B) W2
C) W3
D) W3 - W1
B
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According to the law of one price
A) a company can only charge one price for a product, no matter which nation the product is sold in. B) interest rates across nations should be the same when adjusted for exchange rates. C) goods that are easily tradable across nations should sell for the same price expressed in a common currency. D) the price of gold should differ between nations.
Which if the following is the best example of a public good?
a. Bread. b. Fish in the ocean. c. Scrambled satellite broadcasts. d. National defense.
If the Fed attempts to reach and maintain very low rates of unemployment, we would expect the rate of inflation to rise
Indicate whether the statement is true or false
If the United States placed an embargo on Swedish products, what would happen in the U.S. market for Swedish furniture?
A) The demand curve would shift to the right. B) The supply curve would shift to the right. C) The supply curve would shift to the left. D) The demand curve would shift to the left.