A union may attempt to obtain stricter certification requirements or longer apprenticeships. These changes would raise workers' wages because they:
a. create unnecessary unemployment.
b. shift in labor supply curve leftward.
c. decrease the marginal product of labor.
d. reduce management's use of featherbedding.
b
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If the Fed decides that it wants to lower the unemployment rate, it ________ the growth rate of aggregate demand by ________ the growth rate of money and ________ interest rates
A) accelerates; accelerating; lowering B) reduces; accelerates, lowering C) accelerates; reducing; lowering D) accelerates; reducing; raising E) accelerates; accelerating; raising
Refer to Scenario 2.2. Under what circumstances will the equilibrium level of output of dental care increase?
A) If supply shifts more than demand. B) If demand shifts more than supply. C) If both demand and supply shift by the same magnitude. D) If supply and demand both decrease.