Which of the following shows the effect of a union on wages?
a. Angelina’s salary and sales commission totaled about the same as her husband’s
union manufacturing pay.
b. A training specialist, Ruby, found no difference in pay whether she worked in a union
or nonunion position.
c. Hector’s nonunion assembly line job paid $5.00 less per hour than when he did the
same work in a union shop.
d. A security worker, Kalen, was looking for a job in the nonunion sector where he could
get more pay.
c. Hector’s nonunion assembly line job paid $5.00 less per hour than when he did the
same work in a union shop.
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Cyclical unemployment is:
A. long-term and chronic unemployment that exists even when the economy is producing at a normal rate. B. short-term unemployment that is associated with the process of matching workers with jobs. C. the additional unemployment not captured in official statistics resulting from discouraged workers and involuntary part-time workers. D. the extra unemployment that occurs during periods of recession.
During a "flight to quality"
A) the spread between Treasury bonds and Baa bonds increases. B) the spread between Treasury bonds and Baa bonds decreases. C) the spread between Treasury bonds and Baa bonds is not affected. D) the change in the spread between Treasury bonds and Baa bonds cannot be predicted.
The "crowding-out" effect refers to the fact that
A) fiscal policy cannot be used to shift the IS curve. B) rising interest rates tend to accompany an expansionary fiscal policy. C) there may be a liquidity trap. D) All of these.
Many charities like the Sierra Club are established to deal with externalities
a. True b. False Indicate whether the statement is true or false