Which of the following is not a provision of the Taft-Hartley Act?
a. outlaws the closed shop
b. prohibits union unfair labor practices
c. requires unions to bargain in good faith
d. outlaws striking in support of another union's strike
e. creates the National Labor Relations Board
E
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The term "market" refers only to trading arrangements that have been approved by the government
Indicate whether the statement is true or false
In the long run, changes in equilibrium GDP are most likely to be caused by
a. changes in full-employment output b. open market operations by the Fed c. changes in nominal wages d. contractionary or expansionary fiscal policy e. none of these; long-run equilibrium GDP is a constant
A currency board
A. monitors conditions imposed by the International Monetary Fund (IMF) when it makes a loan to a country. B. establishes a fixed exchange rate by holding only foreign-currency assets and exchanging foreign currency for domestic currency. C. was a key mechanism in the process of European Monetary Union D. establishes the equivalent of a strong fixed exchange rate by mandating the domestic use of a foreign currency.
Purchasing power parity (PPP) measurements of income are a way to make international comparisons by correcting for national differences in
A) unemployment. B) inflation. C) prices of goods and services. D) economic growth.