Author Question: The presence of union wages leads to A) a fall in the real wage rate as more people are hired. ... (Read 97 times)

asd123 · **on:** Jun 29, 2018

The presence of union wages leads to

A) a fall in the real wage rate as more people are hired.
B) less job search as more workers are hired.
C) job rationing because the real wage exceeds the equilibrium real wage.
D) a fall in the real wage rate as fewer people are hired.
E) lower unemployment because workers do not want to lose the high union wage they are being paid.

Question 2

If the U.S. capital and financial account balance has a 30 million surplus and there was no change in official reserves during that year, we know that

A) the United States has a 30 million current account deficit.
B) U.S. official reserves have increased by 30 million.
C) the United States is a net lender.
D) U.S. net foreign lending must equal 30 million.
E) the United States has a 30 million current account surplus.