The National Labor Relations Act (Wagner Act)
A) prohibited the creation of company unions.
B) guaranteed workers the right to organize.
C) set the minimum wage at $5.15 an hour.
D) set the length of the workweek at 40 hours.
B
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If a company plots its total profit curve, it would show
A. that the curve has a negative slope over the entire range of output. B. that the slope of the curve is negative, then zero and then becomes positive as output increases. C. that the slope of the curve is positive, then zero and then becomes negative as output increases. D. that slope is a constant at a value of one.
If the marginal propensity to save (MPS) is 0.1, the multiplier will be
A) 0.1. B) 1. C) 5. D) 10.
The consumer price index was 225 in 2006 and 236 in 2007. The nominal interest rate during this period was 6.5 percent. What was the real interest rate during this period?
a. 1.6 percent b. 4.9 percent c. 6.82 percent d. 11.4 percent
What are the accurate coordinates of the new equilibrium price?
a. P1; Q2
b. P1 Q1
c. P2; Q1
d. P2; Q2