An Increase in the Price of Inputs Used to Produce

question 50

Multiple Choice

An increase in the price of inputs used to produce good A will:

• A)increase supply, increase price and increase the quantity exchanged.
• B)increase demand, increase price and increase the quantity exchanged.
• C)decrease supply, increase price and decrease the quantity exchanged.
• D)decrease supply, decrease price and decrease the quantity exchanged.
• E)do none of the above.

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Definitions:

Union Leadership

Refers to individuals or a group of individuals who are elected or appointed to govern and represent a labor union, making decisions and acting as intermediaries between the union's membership and employers.

Rank and File

The regular members of an organization, particularly in military or labor union contexts, as distinct from the leadership or command structures.

Government Control

The extent to which a government uses its authority to regulate and direct economic operations, policy-making, and society.

Collective Bargaining

The process of negotiation between employers and a group of employees aimed at agreements to regulate working salaries, working conditions, benefits, and other aspects of workers' compensation and rights.