Unions have been protected since 1935 by a federal law, the National Labor Relations Act (NLRA), which contains provisions for
(a) elections by workers to choose their bargaining agents.
(b) employers' recognition of union bargaining agents in interstate commerce for union representation and collective bargaining purposes.
(c) arbitration of disputes that cannot be resolved through bargaining.
(d) all of the above.
(d)
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During a recession, firms' expected profit from investment ________ so the demand for loanable funds curve ________
A) rises; shifts rightward B) falls; shifts leftward C) rises; shifts leftward D) falls; does not shift E) falls; shifts rightward
In a perfectly competitive equilibrium with production and trade, which of the following results occur(s)?
A) Pareto-efficiency is obtained. B) The First Welfare Theorem is satisfied. C) There is efficiency in production. D) All of the above.
A technically efficient method of production produces a given level of output at the lowest possible cost.
Answer the following statement true (T) or false (F)
The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.