Suppose that a union successfully negotiated a 10 percent wage increase and the quantity of labor demanded increased by 10 percent. We can conclude that:
A. the labor demand curve must have independently shifted to the right.
B. labor demand is highly elastic.
C. the coefficient of labor demand elasticity is less than 1.
D. labor demand is unit-elastic.
Answer: A
Economics
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A scatter diagram will be most useful
A) in discerning a possible relationship between height and weight for individuals. B) in resolving a dispute over two normative assertions. C) in predicting next year's rate of unemployment. D) All of the above are correct.
Economics
If Microsoft merges with retail stores and computer makers, such that competition is substantially reduced, it would be in violation of the:
a. Clayton Act. b. Robinson-Patman Act. c. Sherman Antitrust Act. d. Federal Trade Commission Act. e. Celler-Kefauver Act.
Economics