There is evidence that the presence of unions in a labor market:
A. can push wages up for non-union wage earners in the same market.
B. can keep wages low for non-union wage earners in the same market.
C. has no effect on the wages of non-union wage earners in the same market.
D. has an identical effect on the wages of union and non-union wage earners in the same market.
A. can push wages up for non-union wage earners in the same market.
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Assume that the reserve—deposit ratio is 0.4. The Federal Reserve carries out open-market operations, purchasing $1,000,000 worth of bonds from banks. This action increased the money supply by $1,750,000. What is the reserve—deposit ratio?
A) 0.2 B) 0.3 C) 0.4 D) 0.5
Suppose twenty neighbors share a park. One of the neighbors, Al, leaves trash in the park. This bothers the other neighbors. According to Coase's Theorem, assigning the property rights to the park to Al
A) will achieve the socially optimal quantity of trash. B) will result in zero trash being dumped in the park. C) might still not achieve the social optimum since coordinating the other nineteen neighbors can be costly. D) is unfair.