If there is a technology improvement in a unionized labor market, this will
a. decrease the demand for labor, and the union will accept lower wages or fewer workers hired
b. increase the demand for labor, and the union will accept lower wages or fewer workers hired
c. decrease the demand for labor, and the union will demand higher wages or more workers hired
d. increase the demand for labor, and the union will demand higher wages or more workers hired
e. not affect the demand for labor, wages, or workers hired
D
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If the index of intra-industry trade for an industry is zero, then:
a. exports and imports in that industry are equal. b. there are no exports in that industry. c. there are no imports in that industry. d. there is no trade in that industry.
Assume the market in the graph shown was originally at an equilibrium with demand D and supply S. The original equilibrium price and quantity were, respectively:
A. $5 and 30. B. $5 and 20. C. $10 and 20. D. $20 and 10.