The wage rate considered acceptable to workers engaged in collective bargaining will be determined in part by what monetary policy workers expect in the near future
a. True
b. False
Indicate whether the statement is true or false
True
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Federal individual income taxes illustrate the ability-to-pay principle of taxation
a. True b. False
The price of a good will fall if:
a. there is an excess demand of the good. b. demand and supply of the good are the same. c. there is an excess supply of the good. d. the price is below the equilibrium price. e. the price is near the equilibrium price.
A decrease in the market price of a product will reduce producer surplus because new producers will enter the market
a. True b. False Indicate whether the statement is true or false
In a competitive labor market, at wages above equilibrium, the:
a. quantity demanded of labor is greater than the quantity supplied b. MRP of labor curve shifts to the right c. labor-supply curve will shift to the left d. quantity supplied of labor is greater than the quantity demanded