If a Union Is Able to Successfully Lobby Congress to Limit

question 12

Multiple Choice

If a union is able to successfully lobby Congress to limit imports of rival products, and thus to raise the demand (and thus price) for goods or services they make, then which of the following best describes the outcome?

• A) The supply of labor will increase.
• B) The demand for labor will increase.
• C) The supply of labor will decrease.
• D) The demand for labor will decrease.

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Definitions:

Monthly Payments

Regular payments made over a period, often in the context of loans or leases where the total amount owed is divided into equal installments over time.

Mortgage

A legal agreement by which a bank or other creditor lends money at interest in exchange for taking the title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.

Investment Earnings

The return or income generated from various forms of investments, such as stocks, bonds, or real estate.