Which of the following best describes typical employer attitudes toward organized labor (unions) during the 19th century?
(a) Positive—unions could promote cooperation with management to achieve
more efficient operations
(b) Negative—union-promoted labor gains seized profits and encouraged
inefficient behavior
(c) Indifferent—unions had little impact on business profitability
(d) Mixed—about half of employers favored unions and half opposed them
(b)
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The GDP deflator:
A. measures price changes for everything produced in the country. B. may include goods produced abroad. C. is computed using the quantities that are consumed in the economy each year. D. is the same as PPI.
A tax on sellers increases supply
a. True b. False Indicate whether the statement is true or false
Any value of the money supply chosen by the Federal Reserve implies a specific value for:
A. potential output. B. the budget deficit. C. government purchases. D. the nominal interest rate.
Purchasing power parity says that:
A. differences in inflation rates between countries will create changes in exchange rates. B. differences in inflation rates between countries should have no impact on the exchange rate between those countries. C. the changes in exchange rates move independently from inflation. D. for inflation to change the exchange rate, the rate of inflation has to be the same between countries.