If an industrial union is able to negotiate a wage above the competitive market-clearing wage, ...

If an industrial union is able to negotiate a wage above the competitive market-clearing wage, employment in the industry will increase.
 a. True
  b. False

QUESTION 2

Whenever the opportunity costs of goods are significantly different in different countries, there are gains from specialization and trade.
 a. True
  b. False

QUESTION 3

An industrial union is a union composed of workers in the same skilled profession.
 a. True
  b. False

QUESTION 4

If a country has an absolute advantage in the production of every good, it cannot benefit from trade with other countries.
 a. True
  b. False

QUESTION 5

If a union negotiates a wage greater than the competitive wage, the total union wage bill will necessarily decrease.
 a. True
  b. False

QUESTION 6

U.S. consumers would be better off if they bought only U.S.-produced goods.
 a. True
  b. False

QUESTION 7

In a labor market dominated by a union, the supply of labor to a firm is depicted as a horizontal line.
 a. True
  b. False