The airline pilots' union and the National Education Association are examples of ______ unions.
Fill in the blank(s) with the appropriate word(s).
craft
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Increased government spending is an example of:
A. expansionary fiscal policy. B. contractionary fiscal policy. C. expansionary monetary policy. D. contractionary monetary policy.
In order to promote growth through increased quantities of physical capital, governments must promote:
A. a better educational system. B. job training programs. C. funding for basic science. D. high rates of saving and investing.
A key implication of the policy irrelevance proposition is that
A) only unanticipated policy actions can influence real Gross Domestic Product (GDP). B) only fully anticipated policy actions can influence real Gross Domestic Product (GDP). C) the rational expectations hypothesis is incorrect. D) none of the above.
When marginal revenue is positive, total revenue ________ when output increases and demand is ________
A) decreases; elastic B) decreases; inelastic C) increases; elastic D) increases; inelastic E) does not change; unit elastic