The most competitive industry of those presented in the above table is likely to be industry
A) W.
B) X.
C) Y.
D) Z.
B
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Employees at the hospital have negotiated a 3 percent increase in wages for the next year, based on their inflation expectations. If inflation is actually 5 percent over the next year, which of the following will occur?
A) Real wages for hospital employees will fall. B) The increase in inflation is expected. C) Inflation will be 3 percent the following year. D) Unemployment of hospital employees will rise.
Fully accommodating monetary policy results in
A) a constant interest rate. B) the simple fiscal-policy multiplier of Chapter 3. C) an increase in the money supply when there is a rise in government spending. D) All of these.
The Securities and Exchange Commission and the Federal Aviation Administration are examples of agencies engaged in
A) the regulation of natural monopolies. B) the regulation of nonmonopolistic industries. C) social regulation. D) health and safety regulation.
How many elderly people are covered by Medicare?
A. one third B. one half C. almost all D. almost none