An industrial union can obtain a wage higher than the competitive level
a. without any change in total employment
b. at the cost of a reduction in total employment
c. and achieve higher total employment as well
d. and achieve the same or higher total employment
e. thus increasing the quantity of labor demanded
B
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Many people perceive erroneously that most macroeconomists spend a lot of time engaged in
A) forecasting. B) macroeconomic research. C) macroeconomic analysis. D) data development.
Which of the following is a leading business cycle indicator?
a. The unemployment rate. b. The volume of outstanding commercial loans. c. New building permits. d. Personal income.
A monopolist is best described as a price
A. taker. B. searcher. C. maker. D. follower.
Which of the following statements is true?
A. A probit or logit model should be used for corner solution outcomes, and a Poisson regression model should be used for a binary response. B. A Poisson regression model should be used for corner solution outcomes, and a probit or logit model should be used for a binary response. C. A probit or logit model should be used for count variables, and a Poisson regression model should be used for a binary response. D. A Poisson regression model should be used for count variables, and a probit or logit model should be used for a binary response.