Which of the following is not a major common topic of collective bargaining?
A. Union status
B. Product marketing
C. Grievance procedures
D. Seniority and job security
B. Product marketing
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When there is an abrupt increase in the rate of inflation,
a. the actual rate of inflation will tend to fall below the natural rate. b. the actual rate of inflation will tend to rise above the natural rate. c. the actual and natural rate of inflation will generally be equal. d. the natural rate of unemployment will tend to rise.
One bag of flour is sold for $1.00 to a bakery, which uses the flour to bake bread that is sold for $3.00 to consumers. A second bag of flour is sold for $1 to a grocery store who sells it to a consumer for $2.00 . Taking these four transactions into account, what is the effect on GDP?
a. GDP increases by $3.00. b. GDP increases by $5.00. c. GDP increases by $6.00. d. GDP increases by $7.00.
In the short run, expansionary monetary policy ________ real gross domestic product (GDP), ________ unemployment, and ________ the price level.
A) raises; lowers; raises B) raises; raises; raises C) lowers; lowers; raises D) lowers; lowers; lowers E) raises; lowers; lowers
In a perfectly competitive labor market, at the equilibrium wage rate:
A) cyclical unemployment is negative. B) frictional unemployment is positive. C) frictional unemployment is zero. D) cyclical unemployment is positive.