A union is an employer association that bargains with workers over wages, benefits, and working conditions
a. True
b. False
Indicate whether the statement is true or false
False
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One way of describing the solution that high net worth provides to the moral hazard problem is to say that it
A) collateralizes the debt contract. B) makes the debt contract incentive compatible. C) state verifies the debt contract. D) removes all of the risk in the debt contract.
If the Fed unexpectedly shifts to a more restrictive monetary policy, which of the following will most likely occur in the short run?
a. a decrease in the real interest rate b. an increase in unemployment c. an increase in real GDP d. an increase in inflation
The monopolist can earn long-run profits even if it is not insulated with barriers to entry
Indicate whether the statement is true or false
According to Keynesian economists, which of the following is not a consequence of increasing the money supply?
A. a lower interest rate B. greater investment C. lower real GDP D. higher real GDP