Which of the following strategies that a union might pursue would result in the lowest wage rate for its members?
a. Maximizing the total wage bill
b. Maximizing employment of its members
c. Restricting union membership severely
d. Maximizing the total economic rent obtained by its members
b
You might also like to view...
If average variable costs increase as output increases, then
A) total fixed cost must be increasing also. B) marginal cost must be greater than average variable cost. C) total cost must be constant. D) output must be zero. E) average total cost must be increasing also.
Bond prices in the marketplace will fall when
A. interest rates fall. B. the company is losing money. C. interest rates rise. D. the company is making money.
If the economy has an inflationary GDP gap, one possible solution is to increase taxes.
Answer the following statement true (T) or false (F)
When a recessionary gap exists, actual output ________ potential output and the rate of inflation will tend to ________.
A. is less than; increase B. is less than; decrease C. exceeds; increase D. exceeds; decrease