The two key laws affecting labor unions are the ____________ and the _______________.
Fill in the blank(s) with the appropriate word(s).
National Labor Relations Act (Wagner Act); Taft-Harley Act
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The figure above shows the U.S. production function. How would an increase in capital be shown in the figure?
A) an upward shift or rotation of the production function B) a downward shift or rotation of the production function C) a movement from point A to point B D) a movement from point C to point B E) None of the above because the effects of an increase in capital cannot be shown in the figure.
In an attempt to manage expectations, a central bank may prefer to announce an unconditional commitment, because an unconditional commitment ________ than a conditional commitment
A) is inherently more credible B) may have an impact on expectations that is stronger C) places fewer constraints on policy makers D) is less likely to have unintended consequences
A demand curve:
a. has a positive slope. b. illustrates the negative relationship between price and quantity demanded. c. illustrates the positive relationship between price and quantity demanded. d. is based on the assumption of a stable supply curve. e. shifts about in a random fashion.
Marginal utility is the extra utility a consumer derives from consuming an extra unit of a good
a. True b. False