Evaluate the following statements. a. An increase in the price of steel will be passed along to

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Evaluate the following statements.

a. “An increase in the price of steel will be passed along to consumers in the form of higher prices for automobiles, homes, appliances, and other products made with steel.”

Do you agree or disagree?

b. “An increase in the price of craft union labor will be passed along to consumers in the form of higher prices of homes, repair and installation services, appliances, and other products that require craft union labor.” Do you agree or disagree?

c. Are the interests of labor unions in conict primarily with the interests of union employers? Explain.

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Microeconomics Private And Public Choice

ISBN: 9781305506893

16th Edition

Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

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