________ is a union's attempt to withhold labor from a firm to halt production
a. Collective bargaining
b. Binding arbitration
c. Mediation
d. Strike
d
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In bringing an economy out of a recession, a government will often resort to ________ fiscal policies, which often results in budget deficits
A) conservative B) innovative C) contractionary D) expansionary
If Country A's real GDP is growing at 6 percent per year and Country B's real GDP is growing at 6 percent per year, then the standard of living is
A) growing more rapidly in Country A. B) higher in Country B. C) changing at the same rate in Country A and Country B. D) growing more slowly in Country A. E) changing at the same rate in Country A and Country B only if the rate of population growth is the same in both countries.
In the above figure, suppose the economy is initially at a short-run equilibrium at point D and there is an unanticipated increase in the money supply. Which point represents the new short-run equilibrium?
A. A B. B C. C D. D
The most efficient taxation system is a tax system that
A. is highly progressive. B. maximizes tax revenues. C. minimizes the overall excess burden. D. minimizes the total tax burden.