Labor unions create a rent when they succeed. This rent forces employers or management to return some of their profits to unionized workers in the form of improved working conditions, health benefits or increased wages
Indicate whether the statement is true or false
True
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A decrease in the incomes of people who buy canoes would cause the demand for canoes to decrease
Indicate whether the statement is true or false
The satisfaction or pleasure one gets from consuming a good or service is called:
A. price. B. preferences. C. consumption. D. utility.
The lag between the time that the need for fiscal action is recognized and the time action is actually taken is referred to as the:
A. Crowding-out lag B. Recognition lag C. Operational lag D. Administrative lag
Which of the following reasons promoted lending to the poorer member countries in the European Union during 2001-2007?
A. The investment in human capital in the poorer countries was higher than the investment in the richer countries. B. The long-term interest rates in the poorer countries were as low as the interest rates in the richer member countries. C. The debt to GDP ratio was much lower in the poorer countries than in the richer countries. D. The poorer countries experienced lower rates of inflation than the richer countries.