Labor unions create a rent when they succeed. This rent forces employers or management to return some of their profits to unionized workers in the form of improved working conditions, health benefits or increased wages. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Assuming that, over a given period, the value of transactions in current dollars is $8 trillion and the money stock is $500 billion. What is the transaction velocity of money? a. .0625 b. 12 c. 16 d. None of the above ANSWER C
Date: September 10th, 2020
An increase in price expectations in the Keynesian model will shift a. labor demand and aggregate supply to the left. b. labor demand to the left and aggregate supply to the right.. c. labor demand and aggregate demand to the right. d. labor supply and aggregate supply to the left. e. labor supply to the […]
Date: September 10th, 2020
In which model does there not exist a tradeoff between higher inflation and lower unemployment? a. monetarist b. real business cycle c. new classical d. classical e. a tradeoff exists in all of the above ANSWER B
Date: September 10th, 2020
In the classical model, an increase in government spending shifts the a. demand for loanable funds to the right. b. demand for loanable funds to the left. c. supply of loanable funds to the right. d. supply of loanable funds to the left. ANSWER A
Date: September 10th, 2020
Under the Marshall Plan (1948–51), the U.S. granted resources to and transfused U.S. dollars into European countries devastated by World War II. In return, the U.S. requested coordinated plans of European recovery that promoted efficient and effective production in private markets with minimal government interference. Indicate whether the statement is true or false ANSWER […]
Date: September 10th, 2020
In the Keynesian model with both a variable price level and money wage, the aggregate supply function will be a. upward sloping but flatter than for the variable-price/fixed-wage version of the model. b. upward sloping but steeper than for the variable-wage/fixed-price version of the model. c. vertical. d. horizontal. ANSWER B
Date: September 10th, 2020
World War II was the first event that provided the federal government with incentive to support labor unions and help them achieve some of their goals. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Which macroeconomic model dominated macroeconomic analysis from the early post-World War II era until the late 1960s? a. The monetarist model b. The Keynesian model c. The classical model d. The new classical model e. None of the above ANSWER B
Date: September 10th, 2020
In the Keynesian model with a variable money wage and variable price level, an increase in the money supply lead to a rise in all of the following except a. price level. b. output. c. real wage. d. level of employment. e. all of these rise ANSWER C
Date: September 10th, 2020
