Most studies indicate that during the last two decades, the wages of union members have been approximately
a. 5 percent higher than the wages of similar nonunion workers.
b. 14 to 19 percent higher than the wages of similar nonunion workers.
c. 34 to 39 percent higher than the wages of similar nonunion workers.
d. 64 to 69 percent higher than the wages of similar nonunion workers.
B
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Which of the following markets is an example of monopolistic competition?
(A) Oranges (B) Electricity (C) Bus tickets (D) Bookbags
The main input into the production of Starbuck's coffee is imported coffee beans. If the dollar depreciates, how will this affect the U.S. retail coffee market?
a. Input prices will fall and supply will decrease. b. Input prices will fall and supply will increase. c. Input prices will rise and supply will decrease. d. Input prices will rise and supply will increase.