A union that pursued a policy of restricting entry over time into the union would
A) see real wages hold constant over time at whatever premium they could get initially.
B) also have to negotiate to be sure that all the members were able to find jobs.
C) generate rising real wages for its membership over time as long as demand for union workers increased over time.
D) fail to obtain benefits for their workers in excess of what the workers would get under open markets.
C
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If government purchases increase by $10 billion and the economy's MPC is .8, the aggregate demand curve will shift ________.
A. leftward by $40 billion at each price level B. leftward by $50 billion at each price level C. rightward by $50 billion at each price level D. rightward by $10 billion at each price level
Both the World Bank and the IMF typically
A) charge lower than average loan rates to ensure repayment. B) impose stringent preconditions that the borrowers must meet. C) charge higher than average loan rates. D) make loans for less than 5 years only.
List four government expenditure programs designed to redistribute income
What will be an ideal response?
When a commercial bank borrows from the Federal Reserve,
A) Treasury liabilities rise. B) Treasury assets rise. C) Federal Reserve assets rise. D) bank reserves fall.