Union representatives negotiate with employers to establish wage rates and working conditions that ______.
a. ensure the firm is more profitable than its competitors
b. put the needs of the employees ahead of profits
c. are in sync with global rates of pay and performance
d. balance the interests of the workers and the firm
d. balance the interests of the workers and the firm
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What issue is there regarding housing and the measurement of GDP?
A) residential investment is measured using current house prices, not construction prices. B) houses are a capital and a consumption good. C) one does not know whether a house will be owned or rented when it is built. D) mobile homes are not counted.
If the MPC is 0.70, then the spending multiplier is equal to:
a. 0.70. b. 0.30. c. 0.14. d. 3.33. e. 5.
What is the exact nominal interest rate, when the real interest rate is 5% and the expected inflation rate is 15%?
a. 5% b. 10% c. 20.00% d. 20.75% e. 25.5%
Which of the following is not correct?
a. Evaluating statements about how the world should be involves values as well as facts. b. Positive statements can, in principle, be confirmed or refuted by examining evidence. c. Normative statements can be judged using data alone. d. Deciding what is good or bad policy is not just a matter of science.