Unions are often able to sustain wages above the equilibrium wage because they can threaten to
strike.
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How can it be that people purchase more of a good while its price is rising?
A) The supply curve must be shifting to the left. B) The demand curve must be shifting to the right. C) Supply and demand do not change. D) It cannot happen, otherwise the law of demand is violated.
Lucy invested $10,000 at the rate of 12%. According to the rule of 72, it would take ______ years for her money to double
a. 4 b. 5 c. 6 d. 7
An association of workers that presents itself as a single seller of labor on the labor market is called a
a. monopsony b. monopoly c. labor union d. minimum wage e. labor supply curve
Productivity growth rates in the United States have remained fairly constant from 1948 to 2000
a. True b. False Indicate whether the statement is true or false