Suppose that florists and landscape workers are not unionized. If florists unionize, then the wages of
a. florists will rise, and the wages of landscape workers will fall.
b. florists will fall, and the wages of landscape workers will rise.
c. both florists and landscape workers will rise.
d. both florists and landscape workers will fall.
a
Economics
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The short-term unemployment arising from the process of matching workers with jobs is called
A) frictional unemployment. B) cyclical unemployment. C) structural unemployment. D) seasonal unemployment. E) unnatural unemployment.
Economics
Suppose the production of mp3 players can be represented by the following production function: q = L0.4K0.4. The firm currently produces q1 units. If all inputs doubled, the new level of output will equal
A) 20.4 q1. B) 20.8 q1. C) 0.8 q1. D) 1.6 q1.
Economics