In a competitive equilibrium all these relationships hold but one. Which one?
A) Nd=Ns
B) Y=G+C
C) G=T
D) w=z
D
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Which of the following is a stock variable?
A) money supply B) wealth C) public debt D) all of the above
Education
A) does not really add to one's human capital. B) does not really affect one's income. C) is a major factor affecting one's income. D) explains all the differences in male-female incomes.
Relative scarcities are indicated by
A) supply and demand being out of equilibrium. B) surpluses. C) excess demand and excess supply. D) relative prices.
All of the following are true about the Wagner Act of 1935 except that it
a. prohibited unfair labor practices by unions b. was the most important piece of labor legislation in United States union history c. established that firms must accept unions as legitimate institutions in collective bargaining d. guaranteed the union's right to conduct elections freely among workers e. is regarded by unions as their Magna Carta