The best example of an industrial union is the:
A. United Association of Plumbers and Pipefitters
B. International Brotherhood of Electrical Workers
C. American Medical Association
D. United Auto Workers
D. United Auto Workers
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Under the non-strategic view of bargaining, the terms of agreement are determined by
a. Each parties outside options b. Your gain from agreement c. Your opponents gain from agreement d. All of the above
Given the democratic political structure of the United States, make an argument against the independence granted the Federal Reserve.
What will be an ideal response?
A country that does NOT engage in trade can benefit from trade only if
A) pre-trade and free-trade relative prices are not identical. B) it employs a unique technology. C) it has an absolute advantage in at least one good. D) its wage rate is below the world average. E) pre-trade and free-trade relative prices are identical.
In the aggregate demand/aggregate supply model, when the output of an economy is less than its long-run potential, the economy will experience
a. declining real wages and interest rates that will stimulate employment and real output. b. rising interest rates that will stimulate aggregate demand and restore full employment. c. a budget surplus that will stimulate demand and, thereby, help restore full employment. d. rising real wages and real interest rates that will restore equilibrium at a higher price level.