What kind of strike occurs when the members of a union local stop work without the consent of their national organization?
A. Sympathetic
B. Limited
C. Jurisdictional
D. Wildcat
D. Wildcat
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In the short-run, if the Federal Reserve decreases interest rates, then consumption and investment ________, aggregate expenditure ________, and short-run equilibrium output ________.
A. increase; increases; increases B. increase; increases decreases C. decrease; decreases; decreases D. increase; decreases; decreases
What effect does the entry of new firms in a monopolistically competitive market have on the economic profits of existing firms in the market? How might existing firms attempt to counteract this effect?
What will be an ideal response?
Apple is an American company, but its iPhones are assembled in China. The sale of each iPhone then is counted in China’s GDP as:
A. consumption. B. investment. C. an import. D. an export.
The resources that a taxpayer devotes to complying with the tax laws are a type of
a. consumption tax. b. value-added tax. c. deadweight loss. d. producer surplus.