A union may attempt to obtain stricter certification requirements or longer apprenticeships. These changes would raise workers' wages because they:
a. create unnecessary unemployment.
b. shift in labor supply curve leftward.
c. decrease the marginal product of labor.
d. reduce management's use of featherbedding.
b
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Assume that the government of the state of New Jersey has determined that a large number of injuries and deaths have occurred as a result of accidents involving the installation and repairs of electrical equipment at private residences
In reaction to this problem the state assembly decided to pass a law which made a requirement that all certified electricians take and pass a tougher state licensing examination. Analyze the impact that this law is likely to have on the market for electricians and explain why safety may not necessarily improve.
In what way is better protection of the environment a possible result of successful development?
What will be an ideal response?
Satya Nadella is the Chief Executive Officer of Microsoft as well as a member of Microsoft's board of directors. Nadella is therefore classified as an
A) outside director. B) inside director. C) independent director. D) unbiased director.
Let D= demand, S = supply, P = equilibrium price, and Q= equilibrium quantity. What happens in the market for tropical hardwood trees if the governments restrict the amount of forest lands that can be logged?
A) D no change, S decreases, P increases, Q increases. B) D decreases, S no change, P and Q decrease. C) S decreases, D no change, P increases, Q decreases. D) D and S decrease, P and Q increase.