The use of government taxation and expenditures to achieve macroeconomic goals is called

The market clearing price refers to the:

A. equilibrium price that quantity supplied is the highest possible. B. price where quantity demanded and quantity supplied are the same. C. minimum price at which items could be sold. D. maximum price where all suppliers are willing to sell all their production.

One reason nonunionized firms do not always drive unionized firms out of business is that:

A. unionized firms hire more selectively, employing workers with greater human capital. B. unionized firms reduce the value of total output. C. markets are not competitive. D. unionized firms receive government subsidies.