A union will try to increase employment for its members as long as the marginal wage is positive.
Answer the following statement true (T) or false (F)
False
The intersection of the marginal wage and labor supply curves determines the union's desired employment; this will not occur at the last point where the marginal wage is positive.
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The Reagan tax cut of 1981 was an attempt to: a. stimulate aggregate supply
b. stimulate aggregate demand. c. stabilize the value of the U.S. dollar. d. increase demand for U.S. exports. e. reduce the federal budget deficit.
A college professor hires a student to babysit her children and pays the student an efficiency-wage. Which of the following is correct about the wage the student earns?
a. The wage is higher than the wage the student could earn working a similar job elsewhere. b. The wage is the same as the wage the student could earn working a similar job elsewhere. c. The wage is lower than the wage the student could earn working a similar job elsewhere. d. The wage is likely to result in the student shirking responsibilities.