Which of the following tactics is most associated with the demand-enhancement union model?
A. Reducing the price of inputs that are substitutes for union workers.
B. Lobbying for increases in public expenditures on the product it is producing.
C. Restricting the number of workers allowed to work in the industry.
D. Increasing the price of products that are complements for the one it is producing.
Answer: B
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Refer to the scenario above. What will be the GDP per capita of country A at the beginning of year 2012?
A) $2,410.26 B) $2,800 C) $2,760.24 D) $2,546.16
The following appeared in a Florida newspaper a week after a hurricane hit the state. "Floridians are relieved that the storm produced no fatalities but homeowners face weeks, if not months, of rebuilding. Matters are made worse by the soaring prices of plywood and other building materials that always follow in a hurricane's path. Complaints of profiteering and price gouging have not deterred firms from raising their prices by over 100 percent." Which of the following offers the best explanation for the price increases referred to in the article?
A) The hurricane caused an increase in the demand for building materials. B) The hurricane created an artificial shortage of building materials. C) There was a reduction in supply as firms shipped plywood and other materials to locations not affected by the storm. D) The hurricane reduced the number of suppliers of building materials.