How many workers are willing and able to work at the optimal union wage rate in Figure 31.1?
A. 13.
B. 10.
C. 16.
D. 24.
Answer: D
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If the incentive to take advantage of a conflict of interest is high
A) removing the economies of scope that created the conflict may induce higher costs because of the decrease in the flow of reliable information. B) then the government must step in to remove the conflict. C) the costs of non-action in removing the conflict will always be higher than the cost of removing the conflict. D) firms will always step in and work to remove the conflict.
Suppose a shift of aggregate demand pushes the economy "southwest" away from full employment in the aggregate demand and supply diagram. Monetarists would recommend returning to full employment by
A) raising the money supply. B) lowering the money supply. C) waiting for the price level to rise. D) waiting for the price level to fall.
You bought some shares of stock and, over the next year, the price per share decreased by 7 percent and the price level decreased by 9 percent. Before taxes, you experienced
a. both a nominal gain and a real gain. b. a nominal gain and a real loss. c. a nominal loss and a real gain. d. both a nominal loss and a real loss.
Suppose a decrease in the supply of paper results in an increase in revenue. This indicates that
A) the demand for paper is inelastic. B) the demand for paper is elastic. C) the supply of paper is inelastic. D) the supply of paper is elastic.