Which of the following laws made "closed shops" unlawful?
A) Taft-Hartley Act
B) National Industrial Recovery Act
C) National Labor Relations Act
D) Railway Workers Act
Answer: A
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An increase in supply of a product results when
A) the companies that produce the product have higher materials costs. B) the government reduces subsidies on the product. C) taxes on the product are increased. D) technological innovations are introduced in the manufacturing process.
If the number of people unemployed is 100, the number of people employed is 1000, and the working-age population is 1400, then the labor force participation rate is
A) 78.6 percent. B) 71.4 percent. C) 64.3 percent. D) 66.6 percent.
The GDP deflator is the
A) difference between real GDP and nominal GDP multiplied by 100. B) difference between nominal GDP and real GDP divided by 100. C) ratio of nominal GDP to real GDP multiplied by 100. D) ratio of real GDP to nominal GDP multiplied by 100.
During World War II (1941–45) which of the following fell?
(a) Real GDP per capita (b) Private consumption expenditures (c) Private investment (d) Government expenditures