"Regulations do not always have the intended result." Do you agree or disagree? Why?
What will be an ideal response?
Agree. Firms often try to avoid the effects of regulation. Firms engage in creative response, which is a response to a regulation that conforms to the letter of the law but undermines its spirit. Further, individuals may alter their behavior in ways that run counter to the goals of the regulation. For example, people may drive less carefully in safer cars, causing as many injuries as when the cars were less safe.
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Advocates of unions contend that unions are a necessary antidote to the market power of the firms that hire workers and that unions are important for helping firms respond efficiently to workers' concerns
a. True b. False Indicate whether the statement is true or false
As the baby boomers retire what happens in the labor market?
A. increases labor supply. B. decreases labor supply. C. decreases labor demand. D. increases labor demand.