Which of the following is most likely to occur if a union can transfer profits from a unionized employer to union workers?
a. The investment expenditures of the unionized employer will tend to fall.
b. Employment in the nonunion sector will tend to fall.
c. The costs of the unionized employer will tend to fall.
d. The output of the unionized employer will tend to increase.
A
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Which of the following statements correctly describes a total product curve?
A) Points above the total produce curve are efficient. B) The curve shows that output always increases as labor employed increases. C) The curve separates attainable outputs from unattainable outputs. D) The curve shows minimum levels of output. E) The curve first falls, reaches a minimum, and then rises.
For a given level of inflation, if concerns about future weakness in the economy cause businesses to reduce their spending on new capital, then the ________ shifts ________.
A. short-run aggregate supply line; upward B. aggregate demand curve; left C. short-run aggregate supply line; downward D. aggregate demand curve; right