The text discusses unions in the context of the New Deal. It concludes that there was _____ in organized labor's relationship with government because _______
a. deterioration; Roosevelt's early speeches had created excessively high expectations.
b. an improvement; labor gained the right to strike and organize free of employer interference.
c. deterioration; organized labor was made subject to the same controls as big business.
d. an improvement; military preparations reduced unemployment.
b. an improvement; labor gained the right to strike and organize free of employer interference.
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When the monopolistically competitive firm shown in the above figure is at its long-run equilibrium, it will be
A) producing the efficient scale of output and is at point A on the ATC curve. B) producing more than the efficient scale of output and is at point C on the ATC curve. C) producing at less than the efficient scale of output and is at a point such as F on the ATC curve. D) producing the efficient scale of output and is at point B on the MC curve.
If government saving is negative, then
A) G > T. B) Y + TR < C - T. C) T - TR < G. D) T > TR.
The Taft-Hartley Act outlawed all of the following practices EXCEPT
A) secondary boycotts. B) union shops. C) closed shops. D) sympathy strikes.
Which one of the following statements about deflation is false?
a. Deflation is good for lenders. b. Deflation is bad for borrowers. c. Deflation boosts people's real incomes. d. Deflation raises the burden of carrying debt. e. During the last half of the 20th century, the U.S. economy has experienced deflation for more years than it experienced inflation.