In an analytical sense, unions can be thought of as
A) setters of minimum wages.
B) monopoly buyers of workers.
C) generators of inflation.
D) monopsonies.
A
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With no Ricardo-Barro effect, a government budget surplus
A) decreases the demand for loanable funds and increases the real interest rate. B) increases the demand for loanable funds and lowers the real interest rate. C) increases the supply of loanable funds and lowers the real interest rate. D) increases the demand for loanable funds and raises the real interest rate. E) decreases the supply of loanable funds and lowers the real interest rate.
Which of the following countries is the most corrupt?
A) U.S. B) Iceland C) Finland D) New Zealand E) Greenland
Suppose that on Monday, a Big Mac cost $3.00 in the United States and 310 Japanese yen in Japan. On Monday, the exchange rate was $1 = 85 yen. According to the purchasing power parity theory, the yen was __________ by approximately __________ percent
A) overvalued; 22 B) undervalued; 40 C) overvalued; 29 D) undervalued; 22 E) overvalued; 18
The law of supply states that there is a positive relationship between price and quantity supplied, ceteris paribus.
Answer the following statement true (T) or false (F)