If the imposition of a tariff on a commodity alters the relative international prices of the imposing country's exports to its imports, it is referred to as the

In a simplified banking system in which all banks are subject to a 10 percent required reserve ratio, a $1,000 open market sale by the Fed to a bank would cause the money supply to:

a. increase by $1,000. b. increase by $100,000. c. decrease by $10,000. d. decrease by $1,000. e. remain unchanged.

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