A craft union is a union of workers in
a. the same firm
b. the same industry
c. the same skilled profession
d. different skilled professions
e. different trades
C
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Which term refers to the exploitation of highly demanded shared resources?
a. Tragedy of the commons b. Free rider problem c. Negative externality d. Common pool resourcing
One reason government deficits do not cause complete crowding out is because:
a. Saving increases by the amount that consumption falls when income changes. b. When the real risk-free interest rate rises, the real money supply rises due to changes in the public's preferred asset ratios (e.g., Cc/D, N/D, and U/D). c. As the real risk-free interest rate rises, government spending automatically rises to pay for the higher interest expenses. d. All the above. e. None of the above.
In the open-economy macroeconomic model, the purchase of a capital asset by domestic residents adds to the demand for loanable funds
a. only if the asset is located at home. b. only if the asset is located abroad. c. whether the asset is located at home or abroad. d. None of the above is correct.
A commodity tax increases gains from trade.
a. true b. false