Which of the following is correct?
a. In unionized industries, wages are below the level that would prevail in competitive markets.
b. The introduction of a union in an industry increases the quantity of labor demanded in that industry, causes some workers in that industry to be unemployed, and increases wages in the rest of the economy.
c. Critics argue that the allocation of labor resulting from unions is both inefficient and inequitable.
d. All of the above are correct.
c
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Compared to other countries, the United States has a relatively low share of consumption spending in GDP
Indicate whether the statement is true or false
If real interest rates in the US increase relative to real interest rates in other countries which of the following will occur?
a. capital will flow out of the US b the demand for loanable funds in the US will increase c. the supply of the loanable funds will increase in other countries d. the supply of loanable funds will increase e. the demand for loanable funds will increase in other countries