Use the Following Statements to Answer This Question: I

question 70

Multiple Choice

Use the following statements to answer this question: I. A positive deadweight loss necessarily occurs in labor markets that have one seller (e.g., labor union) .
II) The deadweight loss in a labor market with one seller (e.g., labor union) is smaller if the union maximizes the total wages earned by union members than if the union maximizes total economic rents.

• A) I and II are true.
• B) I is true and II is false.
• C) II is true and I is false.
• D) I and II are false.

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Definitions:

Era

A period marked by distinctive character, events, or circumstances.

Black Women

Women of African descent, who have historically faced intersecting forms of discrimination and oppression but have also been at the forefront of various forms of social, cultural, and political leadership.

Philadelphia

A historic city in the United States known for its rich history, including being the site of major events like the signing of the Declaration of Independence and the Constitution.

Occupation

The control and possession of a territory by a foreign military force, or the broad range of jobs and careers that individuals engage in within a society.