If steel workers obtain a substantial wage increase, employment in the steel industry will be most likely to fall if
a. the demand curve for steel is highly inelastic.
b. the demand curve for steel is highly elastic.
c. the demand curve for steel workers is highly inelastic.
d. there are no good substitutes for steel.
B
Economics
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The basic money supply:
A. Is controlled by Congress and the U.S. Treasury. B. Includes savings accounts. C. Includes currency and transactions accounts. D. Includes money market mutual funds.
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The above figure shows the payoff to two gasoline stations, A and B, deciding to operate in an isolated town. Suppose a $30 fee is required to enter the market. If firm A chooses its strategy first, then
A) firm A will not enter. B) neither firm will enter. C) both firms will enter. D) firm A will enter and firm B will not.
Economics