During World War I (1914–18), hourly wages
(a) decreased in nominal and real terms.
(b) increased in nominal and real terms.
(c) increased in nominal terms but decreased in real terms.
(d) decreased in nominal terms but increased in real terms.
(c)
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Explain why in situations where the Coase Theorem applies, bargaining power does not influence whether the efficient outcome is reached, but affects the distribution of gains
What will be an ideal response?
Assume you are holding Treasury securities and have sold futures to hedge against interest-rate risk. If interest rates fall
A) the increase in the value of the securities equals the decrease in the value of the futures contracts. B) the decrease in the value of the securities equals the increase in the value of the futures contracts. C) both the securities and the futures contracts decrease in value. D) both the securities and the futures contracts increase in value.
All of the following groups benefited from immigration to the U.S. in the late 19th and early 20th century except
a. steamship companies b. mining companies c. manufacturing companies d. railroads e. All of the above benefited from immigration.
Which of the following statements is TRUE?
A. saving = personal income - consumption B. investment = disposable income + consumption C. saving = disposable income - consumption D. saving = personal income + consumption