Refer to Figure 7-1. The market equilibrium price is
A) $30. B) $25. C) $20. D) <$20.
C
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The goal of a union may be to maximize the
a. number of union members. b. income received by workers in the relevant industry. c. number of workers employed in the relevant industry. d. All of the above are correct.
If the legal and regulatory environment fails to protect property rights and is often used to favor some at the expense of others, which of the following is most likely to be encouraged?
a. productive activities b. a high rate of investment c. rent-seeking and unproductive activities d. competitive markets
Which of the following is the same as a currency union?
A) a monetary union B) a currency pact C) a monetary pact D) a monetary area
Which of the following might create cost-push inflation?
A. An increase in government regulation B. A decrease government spending C. An increase in taxes D. A decrease in oil prices