Which of the following strategies that a union might pursue would result in the lowest wage rate for its members?
a. Maximizing the total wage bill
b. Maximizing employment of its members
c. Restricting union membership severely
d. Maximizing the total economic rent obtained by its members
b
Economics
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One problem with NAFTA that is not shared by other trade blocs is that
A) national environmental laws differ greatly. B) the countries are at very different stages of economic development. C) the countries speak different languages. D) the countries are not natural trading partners. E) the United States and Mexico have a history of conflict.
Economics
Which of the following is NOT a property of isoquants?
A) They do not cross. B) The closer they are to the origin, the higher the level of output. C) They have a downward slope. D) They are "thin."
Economics