The negotiation process between an employer and a union is described as collective bargaining

Economists would describe cartels as

a. the opposite of ignoring interdependence. b. a collusive arrangement. c. an undesirable form of market organization that may charge a monopoly price. d. All of the above are correct.

If purchasing power parity holds and a basket of goods costs $300 in the U.S. and the same basket costs 450 manats in Azerbiajan, then what is the nominal exchange rate?

a. about .67 manats per dollar b. 1 manat per dollar c. 1.5 manats per dollar d. about 1.67 manats per dollar