Which of the following is most likely to occur if a union can transfer profits from a unionized employer to union workers?
a. The investment expenditures of the unionized employer will tend to fall.
b. Employment in the nonunion sector will tend to fall.
c. The costs of the unionized employer will tend to fall.
d. The output of the unionized employer will tend to increase.
A
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If the proportion of bad borrowers increases,
A) the lending interest rate increases. B) the lending interest rate decreases. C) the borrowing interest rate increases. D) the borrowing interest rate decreases.
The early Phillips curve showed a trade-off between unemployment and inflation because it was drawn for a period in which the main source of instability was aggregate demand
a. True b. False Indicate whether the statement is true or false
Which economist(s) first identified an inverse relationship between inflation and unemployment?
a. Robert Lucas and Thomas Sargent. b. W. Phillips. c. Robert Barro. d. Paul Samuelson. e. Arthur Laffer.
The rationale behind patents is that if inventors and artists cannot secure the returns from successful projects, fewer new inventions and works of art will be produced
Indicate whether the statement is true or false