Suppose union workers are earning more than similarly qualified nonunion workers. From this, we can conclude that
A) unemployment of union workers must have increased.
B) unemployment of nonunion workers must have increased.
C) productivity of union workers must be greater than the productivity of nonunion workers.
D) Any of the above are possible and we cannot tell which without having more information.
D
You might also like to view...
If the net public debt expanded last year, then which of the following most likely occurred during the year?
A) The government's budget was balanced.
B) The government's tax collections exceeded its spending.
C) The government experienced a budget surplus.
D) The government experienced a budget deficit.
The situation that exists because our unlimited wants exceed our limited resources is called ______.
a. a correlation b. an input c. a shortage d. scarcity
The excise tax on gasoline is
A. a direct tax. B. an indirect tax. C. both a direct tax and an indirect tax. D. neither a direct tax nor an indirect tax.
The Wax Works sells 500 candles at a price of $10 per candle. The Wax Works? total economic costs for producing 500 candles are $2,000. The Wax Works? economic profit is
A. $2,000. B. $3,000. C. $5,000. D. indeterminate from this information.