The leadership of unions must recognize that they face
A) an economic system that is hostile to the interests of workers.
B) a no-win situation whenever they think a strike is necessary.
C) a fundamental trade-off between higher wages for members and higher taxes for members.
D) a fundamental trade-off between higher wages for members and fewer jobs for members.
Answer: D
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Frictional unemployment exists because:
A) firms do not make an attempt to advertise the vacancies they have. B) unemployment benefits are capped in most economies. C) firms and workers have imperfect information about each other and the state of the economy. D) job markets are heavily regulated by the government..
Refer to the scenario above. If each bidder uses his dominant strategy, who will win the auction?
A) John B) Jacob C) Alex D) Maria