In which of the following years was inflation in the United States the highest?

Collective bargaining in the United States typically involves negotiations between

A) the government and management over the minimum wage law. B) the management of a company and the leaders of the union over the wages and fringe benefits to be offered. C) an individual and her boss over the appropriate salary level. D) union and nonunion employees regarding work rules.

Identify the correct statement about the effect of an expansionary monetary policy in an economy

a. It results in an increase in real gross domestic product in the short run and inflation in the long run. b. It results in a decrease in real gross domestic product in the short run and inflation in the long run. c. It results in an increase in real gross domestic product in the short run and deflation in the long run. d. It results in a decrease in real gross domestic product in the short run and deflation in the long run.