If there are powerful unions in a labor market, the use of the supply-and-demand model to analyze labor markets

A. is inappropriate.
B. will cause you to believe the wage will be lower than it is.
C. will cause you to believe that fewer people will be hired than will be.
D. is completely accurate.

Answer: A

Economics

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Long-run macroeconomic equilibrium is achieved when the money wage rate has adjusted so that employment is such that real GDP equals potential GDP

Indicate whether the statement is true or false

Economics

Price tags attached to goods for purchase at a store would be an example of money's role as a

A) medium of exchange. B) store of value. C) unit of account. D) none of the above

Economics