What effect do unions have on the labor market?
a. higher wages and fewer workers
b. higher wages and more workers
c. lower wages and fewer workers
d. lower wages and more workers
a. higher wages and fewer workers
Economics
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Which of the following businesses has elastic supply?
(A) Apple farming (B) Newspaper publishing (C) Electricity production (D) Hair cutting
Economics
If the dollar/pound exchange rate is $2/£, a Big Mac costs $5 in New York City and costs £4 in London, the pound is ________, and U.S. tourists will be ________
A) overvalued; better off in London B) overvalued; better off in New York C) undervalued; better off in London D) undervalued; better off in New York
Economics