What are the three noteworthy labor market trends that Americans have experienced for about two decades?
For about two decades Americans have experienced three noteworthy trends:
(a) a decline in union membership of more than 30 percent,
(b) a steady fall in real wages partly offset by rising fringe benefits, and
(c) a rise in the income gap between well-paid and poorly paid workers.
You might also like to view...
A movement along the demand curve for toothpaste would be caused by
A) a change in population. B) a change in the price of toothbrushes. C) a change in consumer income. D) a change in the price of toothpaste.
What did Friedman and Phelps predict would happen if policymakers tried to move the economy upward along the Phillips curve? Did the behavior of the economy in the late 1960s and the 1970s prove them wrong?
Consider two points on the PPF: point A, at which there are 50 oranges and 100 apricots, and point B, at which there are 51 oranges and 98 apricots. If the economy is currently at point B, the opportunity cost of moving to point A is
A) 2 apricots. B) 1 orange. C) 98 apricots. D) 3 oranges.
If the Federal Reserve sets a target nominal interest rate, it can:
A. only set a money supply target that is consistent with the nominal interest rate target. B. shift the money demand curve to the right. C. achieve this target with any arbitrary supply of money. D. independently set a target money supply.