Labor unions ________ increases in the minimum wage because an increase in the minimum wage ________ the demand for union labor
A) support; increases
B) support; decreases
C) oppose; increases
D) oppose; decreases
E) support; has no effect on
A
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When someone in a country buys an asset abroad, the transaction is recorded
A) in the current account. B) in the official settlements balance. C) in the financial account as a capital inflow. D) in the financial account as a capital outflow.
Explain how a well-functioning financial system can increase total factor productivity and promote economic growth
What will be an ideal response?
Which of the following is an example of a change in culture affecting the production of a good or service:
A. A shortage of chocolate chips causes a cookie company to stop production. B. Laws banning smoking in restaurants result in a decrease in demand for cigarettes. C. An oil spill in the ocean causes local seafood restaurants to lose business. D. The "green movement" leads to an increase in demand for recycled products.
A market for scalped tickets exists only because the ticket sales policies of the event promoter
A. were unjust and immoral. B. exploited more opportunities for mutually beneficial trade than actually existed. C. failed to exploit every opportunity for mutually beneficial trade. D. created illusory opportunities for mutually beneficial trade.