1. Which of the following best describes the influence of labor unions on workers?
A) The harm of labor unions to workers in both immediately evident and longer term
B) The benefit of labor unions to workers in both immediately evident and longer term
C) The benefit of labor unions to workers in both immediately evident while the harm is longer term and hard to see
D) Labor union provides neither benefits nor harm to workers
2. Which of the following is NOT the primary method that unions use to raise wages?
A) restricting their membership
B) threatening to strike unless employers hire union labor
C) reducing the supply of labor to an industry
D) lobbying the government to increase the minimum wage
3. An individual labor supply curve
A) is always positively sloped
B) is always negatively sloped
C) it’s always vertical
D) can be positively sloped, vertical or negatively sloped at different ranges
4. The term “accidents of history” describes
A) actual equilibrium outcomes in a coordination game
B) good equilibrium outcomes in a coordination game
C) all equilibrium outcomes in coordination game
D) no equilibrium outcomes in coordination game
5. QWERTY is used today because it is
A) faster
B) locked in
C) simple
D) superior in several dimension