Suppose Congress conducts hearings to decide whether federal loan guarantees ought to be given to the Chrysler Corporation to save it from bankruptcy. The United Automobile Workers union is likely to be well represented at these hearings because the union
What will be an ideal response?
and its members have a large stake in the issue.
You might also like to view...
Refer to Table 4-7. The equations above describe the demand and supply for Pauline's Pickled Pomegranates. What are the equilibrium price and quantity (in thousands) for Pauline's Pickled Pomegranates?
A) $20 and 10 thousand B) $60 and 20 thousand C) $15 and 45 thousand D) $30 and 15 thousand
When the government bans a good:
A. the cost of breaking the ban needs to be sufficiently low in order to be effective. B. it doesn’t need to change the trade-offs consumers face. C. it will only be effective if it can be easily enforced. D. it should get approval from the community before exacting the ban to be more effective.
Which measure of inflation best reflects underlying trends in the economy?
A. Core inflation B. Headline inflation C. Overall inflation D. Nominal inflation
If a firm is losing money, in the short run it
A. will definitely operate. B. will definitely shut down. C. may operate if covering variable costs. D. will definitely go out of business.