Suppose that a labor union leader is trying to bargain for an increase in union workers' real wages of 5 percent. If he expected the price level to rise at a rate of 3 percent this year, how much would nominal wages need to increase for him to accomplish his objective?

The figure above shows an education market in which the government is providing households with vouchers. In total, how much do the schools receive for a student?

A) $4,000 B) $8,000 C) $12,000 D) $16,000 E) $20,000

Net taxes are indirect business taxes plus transfer payments

a. True b. False Indicate whether the statement is true or false