The International Brotherhood of Electricians is an example of a(n)
a. agency union
b. industrial union
c. skilled union
d. craft union
e. federated union
D
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Suppose regulators impose a price ceiling on a monopoly. If the price ceiling is set too high
a. deadweight loss will be eliminated. b. deadweight loss will be reduced. c. deadweight loss will be increased. d. deadweight loss will not be affected.
If e = 0.10, c = 0.20, and H = 440, the money supply at full multiplier expansion is
A) 4400. B) 1467. C) 1760. D) 1907. E) 1173.
The most volatile GDP category under the expenditure approach is: a. wages and salaries
b. investment. c. consumption. d. government purchases.
In the short run, there is a direct relationship between:
a. the actual price level and nominal GDP, other things constant. b. the profits and potential output supplied, other things constant. c. the cost of production and the actual profit earned by firms, other things constant. d. the actual price level and real GDP supplied, other things constant.