When an employer has a right to hire anyone, but every nonunion worker hired must join the union within a certain period of time, this is
a. illegal
b. a union shop
c. a closed shop
d. an elastic shop
e. a strike
B
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Which of the following is a NOT a tool the Fed uses to change the money supply?
a. The tax rate b. The reserve ratio c. Open market operations d. The discount ratee
Average growth rates of per capita income were close to zero, on average, prior to the Industrial Revolution.
Answer the following statement true (T) or false (F)
The symbiotic relationship between mass production and mass consumption was best personified by
A. John D. Rockefeller. B. Andrew Carnegie. C. Henry Ford. D. John Deere.
Last year a country had exports of $50 billion, imports of $60 billion, and domestic investment of $40 billion. What was its saving last year?
a. $30 billion b. $20 billion c. $10 billion d. -$10 billion