What is a formal complaint called?
a. negotiation
b. grievance
c. arbitration
d. mediation
Ans: b. grievance
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The money demand curve will shift to the right if:
A. ATM machines are introduced. B. real income increases. C. the nominal interest rate increases. D. the price level decreases.
A nation's producers can compete effectively with imports from other nations if it has
a. high wages b. low wages c. low labor cost per unit of output d. less specialization e. low labor productivity
A subsidy in an industry would be likely to increase the consumer surplus for buyers in that industry and increase the producer surplus for sellers in that industry
a. True b. False Indicate whether the statement is true or false
Assume you have $1,000 in a savings account at the beginning of the year and the price level is equal to 100. If the price level is equal to 115 at the end of the year, the real value of your savings is closest to
A. $1,115. B. $885. C. $1,150. D. $870.