Suppose two countries are identical in every way with the following exception. Economy A has a higher saving rate than economy B. Given this information, we know with certainty that
A) steady state consumption in A is higher than in B.
B) steady state consumption in A is lower than in B.
C) steady state consumption in A and in B are equal.
D) steady state growth of output per worker is higher in A than in B.
E) none of the above
E
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When net capital flows are positive
A) net foreign investment is negative. B) capital inflows are greater than capital outflows. C) capital outflows are greater than capital inflows. D) A and B are both correct.
The relationship between output and employment is known as
A) the Phillips curve. B) the Beveridge curve. C) the Diamond paradox. D) Okun's Law.
Labor unions that consist of workers from a particular industry, such as automobile manufacturing, are called
A) craft unions. B) industrial unions. C) collective unions. D) closed unions.
What is a union shop, and what is its purpose?
What will be an ideal response?