Which of the following is not correct?
a. Unions are exempt from U.S. antitrust laws.
b. The Wagner Act of 1935 prevents U.S. employers from interfering when workers try to organize unions.
c. The National Labor Relations Board is the U.S. government agency that enforces workers' right to unionize.
d. Right-to-work laws prevent firms from hiring permanent replacements for workers who are on strike.
d
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Recessions occur because of
A) difficulties in coordinating economic affairs. B) shocks to technology. C) real adverse shocks to the economy. D) all of the above.
Why might Congress benefit from the Fed being self-financed?
A) Self-financing increases Congressional control over the Fed. B) Self-financing reduces the Fed's exposure to external pressures. C) Self-financing gives the Fed an incentive to expand the money supply, which ultimately results in Congress having additional funds to spend. D) Congress does not benefit from the Fed being self-financed; Congress is obliged by the Constitution to allow the Fed to be self-financed.
Provide the formula for the expenditure approach to GDP accounting and include an example of each category of spending
The concept of scarcity as used by economists refers to:
a. a situation of excess supply. b. a situation in which the available resources are not enough to satisfy the wants of the people at a zero price. c. a situation in which an item is available only in very small quantities. d. a situation in which an item is very expensive. e. a situation in which a resource is nonrenewable.