The largest labor union in the United States represents approximately
A. 5 percent of the labor force.
B. 1 percent of the labor force.
C. 10 percent of the labor force.
D. 15 percent of the labor force.
Answer: B
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In the long run, the real interest rate is 3 percent, real GDP grows at 4 percent, velocity is constant, and the quantity of money grows at 8 percent. The nominal interest rate is
A) 7 percent. B) 12 percent. C) 10 percent. D) 8 percent. E) 6 percent.
The push toward creating more regional trade agreements necessarily harms the multilateral liberalization process that is at the heart of the WTO
What will be an ideal response?
Expectations are taken to be rational in ________
A) traditional Keynesian and new Keynesian theory B) new Keynesian and real business cycle theory C) real business cycle and traditional Keynesian theory D) traditional Keynesian, new Keynesian and real business cycle theory
Which statement is true?
A. Frederic Bastiat's "Petition of the Candlemakers to Shut Out the Sun" was a plea for free trade. B. Frederic Bastiat's "Petition of the Candlemakers to Shut Out the Sun" was a plea for protection. C. Dollars are used for all international transactions. D. None of these statements are true.