Select the graph above that best shows the change in the market specified in the following situation: In the market for leather coats, when leather coats become more fashionable among young consumers.

Collective bargaining by unions can result in a union wage rate that is ________ the equilibrium real wage rate and creates a ________ of labor

A) below; shortage B) above; shortage C) below; surplus D) above; surplus E) equal to; surplus

A country has had its per capital real GDP remain constant for several years. During this period this country

A) has not experienced any economic growth. B) may have experienced economic growth if the average hours worked per week have fallen. C) will have experienced an inward shift of the production possibilities curve. D) will have an increase in the number of poor people.