It is estimated that, on the average and without taking account of skill differentials, union wages are
A) equal to nonunion wages.
B) less than nonunion wages.
C) 66 percent higher than nonunion wages.
D) 100 percent higher than nonunion wages.
E) 30 percent higher than nonunion wages.
E
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Spending tends to be more susceptible to special interests than taxation
a. True b. False
The AFL-CIO merger in 1955 revolutionized union practices
Indicate whether the statement is true or false
The marginal propensity to consume is
a. the fraction of an increase in income that would be spent on consumer goods. b. the additional desire people have for consumer goods. c. the fraction of a person’s total income normally spent for consumer goods. d. the change in consumption resulting from a $1 change in the price level.
Refer to the graph shown. The shift in the short-run Phillips curve shown is most likely to be caused by:
A. a decrease in expected inflation. B. a decrease in labor productivity. C. an increase in labor productivity. D. an increase in expected inflation.