Which of the following is not a consequence of above-equilibrium wages in a labor market?
a. a surplus of labor
b. unemployment
c. more unionized jobs
d. All of the above are consequences of above-equilibrium wages.
c
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Under perfect capital mobility
a. there are no restrictions on buying financial assets, though there may be on buying factories and equipment. b. transactions costs have to be zero. c. differential risk in assets across countries are minimal. d. All of the above e. None of the above
Consider the above table. Assuming the government imposes a price floor on garbanzo beans of $8, what would be the likely result?
A) a surplus of 2000 garbanzo beans B) a shortage of 2000 garbanzo beans C) No change, equilibrium would prevail. D) The quantity demanded of garbanzo beans would fall to zero.
Which of the following is a problem associated with an active policy such as a stimulus package?
a. Increase in the unemployment rate b. Increase in inflationary pressure c. Increase in the market interest rate d. Decrease in the market interest rate e. Decrease in money demand
If productivity growth in Japan exceeds productivity growth in the U.S., to the point that the resource cost in ALL Japanese industries is lower than in the U.S., then
A. there is no feasible way for the U.S. and Japan to continue to trade. B. mutually beneficial trade is possible. C. trade between the U.S. and Japan is possible, but only Japan will benefit from it. D. trade between the U.S. and Japan is possible, but only the U.S. will benefit from it.