Employees who are members of a labor union can expect to receive lower wages than nonunion workers in the same industry, but can also expect greater job security.
Answer the following statement true (T) or false (F)
False
Union workers tend to be paid more than their nonunion competitors in the same industry.
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Suppose that the Federal Reserve conducts an open market sale. Everything else held constant, this will cause the demand for U.S. assets to ________ and the U.S. dollar will ________
A) increase; appreciate B) increase; depreciate C) decrease; appreciate D) decrease; depreciate
In differentiating between the short- and long-run elasticities, when economists talk about short-run elasticities,
a. b and c. b. there is no need to mention short versus long run. c. the only issues are price and quantity. d. short-run elasticities are usually higher. e. short-run elasticities are usually lower.
If the federal government has a budget surplus, then the national debt is:
a. reduced. b. fully repaid. c. negative. d. interest-free.
Monopolistic competition is common in
a. retail selling. b. farming. c. basic manufacturing. d. electric power generation.