If an exclusive union is successful in restricting the supply of labor, the:
A. wage rate will rise.
B. quantity of labor demanded will rise.
C. number of job opportunities in the firm or industry will increase.
D. demand for labor curve will shift leftward.
Answer: A
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Suppose that Matt quits a job with the XYZ Corporation in order to look for more rewarding employment. Matt is best be considered as
A) still being employed. B) included in the economy's "hidden employment." C) frictionally unemployed. D) cyclically unemployed.
The majority of funding for 19th century American canal building came from
a. the federal government. b. state governments. c. local governments. d. private investors.
A tax on an imported good is called
a. a subsidy b. dumping c. a quota d. a tariff e. restricted trade
Under autarky, domestic producer surplus is represented by the area
A) above the supply curve and below the equilibrium price. B) above the demand curve and below the supply curve. C) above the supply curve and below the demand curve. D) below the demand curve and above the equilibrium price.