Which statement is true about labor unions in the United States?
A. Overall unions have had no effect on wages, but have created better working conditions.
B. They did not gain widespread acceptance until the 1920s.
C. The U.S. has virtually the same percentage of its workforce unionized as other industrial nations.
D. None of the choices are true of labor unions in the U.S.
D. None of the choices are true of labor unions in the U.S.
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What does the quantity theory of money imply? If the growth rate of money supply and growth rate of real GDP in an economy are 8% and 6%, respectively, then what is the inflation rate in the economy?
What will be an ideal response?
When the wage increases, the substitution effect in the household's choices leads to
A) a decrease in consumption and leisure. B) a decrease in consumption and an increase in leisure. C) an increase in consumption and a decrease in leisure. D) an increase in consumption and leisure.
In the Fixed Effects regression model, using (n – 1) binary variables for the entities, the coefficient of the binary variable indicates
A) the level of the fixed effect of the ith entity. B) will be either 0 or 1. C) the difference in fixed effects between the ith and the first entity. D) the response in the dependent variable to a percentage change in the binary variable.
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the short run would be:
A. P1 and Y2. B. P3 and Y1. C. P2 and Y2. D. P2 and Y3.