An industrial union is a union
a. organized on the basis of the workers' industry
b. organized on the basis of workers' skills
c. organized by an employer
d. whose primary goal is to oppose technological advance and to protect the traditional method of working
e. consisting of all workers in an industrial economy
A
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The basic characteristics of a pure capitalist system include the private ownership of the means of production and economic activity being coordinated through a system of markets and prices
a. True b. False Indicate whether the statement is true or false
Ellie has been working for an engineering firm and earning an annual salary of $80,000 . She decides to open her own engineering business. Her annual expenses will include $15,000 for office rent, $3,000 for equipment rental, $1,000 for supplies, $1,200 for utilities, and a $35,000 salary for a secretary/bookkeeper. Ellie will cover her start-up expenses by cashing in a $20,000 certificate of
deposit on which she was earning annual interest of $500 . Ellie's annual economic costs will equal a. $55,200. b. $75,200. c. $80,500. d. $135,700.
The fact that it takes time for government to take action, even after a problem has been diagnosed, is one reason for the occurrence of:
A. inside lags. B. outside lags. C. crowding out. D. the multiplier effect.
In Year 1, the actual budget deficit was $200 billion and the cyclically-adjusted deficit was $150 billion. In Year 2, the actual budget deficit was $225 billion and the cyclically-adjusted deficit was $175 billion. It can be concluded that fiscal policy from Year 1 to Year 2 became more:
A. Proportional B. Progressive C. Contractionary D. Expansionary