This table shows the demand and supply schedule of a good.
According to the table shown, at a price of $0.50 quantity demanded:
A. exceeds quantity supplied and a shortage exists.
B. is less than quantity supplied and a shortage exists.
C. exceeds quantity supplied and a surplus exists.
D. is less than quantity supplied and a surplus exists.
A. exceeds quantity supplied and a shortage exists.
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Moving along a short-run aggregate supply curve, resource prices ________, the money rate wage ________, and potential GDP ________
A) do not change; changes; does not change B) do not change; does not change; changes C) change; does not change; does not change D) do not change; does not change; does not change
An inclusive union
A. is most concerned with increasing the demand for workers in an industry. B. organizes a wide range of workers in an industry to gain bargaining power. C. restricts supply of labor through licensing requirements. D. is most effective in a purely competitive industry.