Labor unions are organizations that
A) try to secure more opportunities for more workers in the economy.
B) try to secure economic improvements for all workers.
C) try to secure economic improvements for their members.
D) try to make labor markets more competitive.
C
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Developing-country governments were attracted to planning by the positive example of
a. Great Britain during the 1980s b. The United States during the 1790s c. Japan during the 1870s d. The Soviet Union during the 1950s e. all of the above
If unemployment is below the NAIRU, inflation generally:
A. accelerates. B. decelerates. C. becomes negative. D. gets caught in a downward spiral.
A situation where quantity demanded exceeds quantity supplied is called a(n) ______.
a. substitution b. equilibrium c. shortage d. surplus
In the base year, real GDP ________ nominal GDP.
A. is equal to B. could be greater than or less than C. is less than D. is greater than