Some labor union wage contracts contain a cost-of-living adjustment indexed against _____________.
a. inflation
b. consumer prices
c. cost of materials
d. profits
a. inflation
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In the circular flow model, which of the following owns the factors of production?
A) only federal, state, and local governments B) only households C) only firms D) both firms and households E) firms, households, and all levels of government
What role do social networking Web sites play in creating confirmation bias among users?
What will be an ideal response?
The government deficit does NOT place a burden on future generations when
A) taxes are eventually raised to pay interest on the additional debt. B) the borrowed funds are used for productive government investment. C) borrowing from foreigners offsets the deficit, so that private investment is not crowded-out. D) the borrowed funds are transferred to the purchase of nondurable consumer goods.
A new technological innovation would increase
a. the labor force. b. labor hours worked. c. labor productivity. d. population growth.