If a union negotiated a wage above the market equilibrium wage, we would find
A) a surplus of laborers at the negotiated wage.
B) a shortage of laborers at the negotiated wage.
C) higher efficiency of labor at the negotiated wage.
D) lower worker productivity at the negotiated wage.
Answer: A
You might also like to view...
Statistical studies of the relationship between interest rates and later depreciation rates show that
A) the interest difference has been a very bad predictor in the large swings of exchange rates. B) the interest difference has been an accurate predictor in the large swings of exchange rates. C) the interest difference has correctly predicted the direction in which exchange rates would change. D) the interest difference has not yet been studied as a predictor in the large swings of exchange rates. E) the interest difference is unrelated to the large swings of exchange rates.
Which of the following is the common link among developing countries?
a. Low poverty b. Low unemployment c. Low trade deficits d. Minimum government interference e. Low per capita GDP