A union can influence the equilibrium wage rate by:
a. collective bargaining.
b. featherbedding.
c. lobbying for legislation to reduce immigration.
d. all of these.
d
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Aggregate expenditure includes spending on
A) C + I + G - NX. B) C + I + depreciation - NX. C) C + I + G. D) C + I + G + NX.
If a firm's marginal cost curve is very steep in the short-term, but much flatter in the long-term, all else equal a ________-term forecast is likely to be more valuable than a ________-term forecast.
A) short; long B) long; extended C) short; extended D) long; short
When a country continually adds more capital to its existing stock productivity will:
A. increase at a decreasing rate. B. increase at an increasing rate. C. decrease at a decreasing rate. D. decrease at an increasing rate.
As Americans have become more health conscious, rules about food labels have become more complex and stringent. This is an example of government acting as
A. referee. B. redistributor. C. taxer. D. defender.