Which of the following is not correct?
a. A union is a worker association that bargains with employers over wages, benefits, and working conditions.
b. Unions play a much larger role in the U.S. labor market now than they did in the past.
c. Unions play a large role in many European countries.
d. A union is a type of cartel.
b
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If currency outside of banks is $800 billion; traveler's checks are $10 billion; checkable deposits owned by individuals and businesses are $700 billion; savings deposits are $4,000 billion; small time deposits are $1,000 billion; and money market
funds and other deposits are $800 billion, then M2 equals ________ billion. A) $7,310 B) $5,800 C) $710 D) $2,510 E) $1,510
In a certain textile firm, labor is the only short term variable input. The manager notices that the marginal product of labor is the same for each unit of labor, which implies that
A) the average product of labor is always greater that the marginal product of labor B) the average product of labor is always equal to the marginal product of labor C) the average product of labor is always less than the marginal product of labor D) as more labor is used, the average product of labor falls E) there is no unambiguous relationship between labor's marginal and average products.
Assume that a one-year Malaysian bond yields 10 percent interest and that the dollar return on maturity is 5 percent. If the exchange rate at maturity is $1 = MYR 4.00 (Malaysian ringgit), what was the exchange rate at the time the bond was purchased?
a. $1 = MYR 4.2 b. $1 = MYR 3.8 c. $1 = MYR 3.6 d. MYR 1 = $0.26 e. MYR 1 = $0.4
Which of the following is used to determine the terms of trade?
A. Absolute costs. B. Opportunity costs. C. Export ratio. D. Per capita GDP.