When a union raises the wage above the equilibrium level,
a. both the quantity of labor supplied and unemployment rise.
b. both the quantity of labor supplied and unemployment fall.
c. the quantity of labor supplied rises and unemployment falls.
d. the quantity of labor supplied falls and unemployment rises.
a
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Activities that encourage faster growth are
A) high levels of consumption and low levels of savings. B) high levels of saving and investment in human capital. C) imposing trade barriers to limit international trade and thereby protect national industries. D) limiting property rights so that everyone can use any invention. E) taxes on saving that serve to encourage more spending and less saving.
When attempting price regulation, a government faces what problem(s)?
A) limited information B) bribes C) uncooperative firms D) All of the above.
An organization of sellers designed to coordinate their supply decisions to maximize joint profits is called a:
a. consumer cooperative. b. marketing association. c. regulatory agency. d. cartel.
Use the following table to answer the next question. The following national income data for an economy is in billions of dollars.Consumption$5,100Investment1,100Transfer payments1,050Government purchases1,400Exports850Imports950Net foreign factor income20What are the net exports for this economy?
A. ?$100 billion B. $950 billion C. $850 billion D. $100 billion