The figure above shows a labor market. If there is a monopsony in this labor market, then increasing the minimum wage from $3 per hour to $5 per hour
A) will increase the quantity of labor employed.
B) will leave unchanged the quantity of labor employed.
C) will decrease the quantity of labor employed.
D) could increase, decrease, or leave unchanged the quantity of labor employed.
A
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A labor union is a group of
a. employees who join together to improve their working conditions b. firms that join together to hire workers c. firms that work together to negotiate better prices in the market d. farmers who work together to receive better prices for their agricultural products e. workers and firm owners who join together to improve working conditions
In which of the following cases has political corruption definitely occurred?
A. Political candidates accept campaign contributions from people B. Government agencies impose fines for such things as traffic violations C. A bureaucrat allows someone to look at confidential documents for an informal fee D. A government agency receives donations for distribution to charity