Collective bargaining in the United States typically involves negotiations between
A. union and nonunion employees regarding work rules.
B. an individual and her boss over the appropriate salary level.
C. the government and management over the minimum wage law.
D. the management of a company and the leaders of the union over the wages and fringe benefits to be offered.
Answer: D
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Market risk is:
a. The chance that financial assets cannot be sold quickly and without substantial loss of value. b. The chance of a change in the market value of a security due to changes in macroeconomic variables, such as interest rates or exchange rates. c. The risk that credit cannot be expanded by the banking system due to a central bank regulation. d. The chance that borrowers will be unable or unwilling to repay their debts.
According to the per se rule, when would the courts find a monopoly in violation of the Sherman Antitrust Act?
A. Always-monopoly is per se illegal under the rule of reason. B. Only when the monopoly created negative externalities. C. Only when the monopoly engaged in illegal business practices. D. Only when the monopoly charged excessively high prices.
An example of a procyclical fiscal policy is:
A. a balanced budget policy. B. unemployment compensation. C. welfare payments. D. an income tax.
Long-run equilibrium will occur at the price level at which
A) the aggregate demand and long-run aggregate supply curves intersect.
B) the short-run aggregate supply and long-run aggregate supply curves intersect.
C) the long-run aggregate demand and short-run aggregate supply curves intersect.
D) the aggregate demand and short-run aggregate supply curves intersect.