Which of the following is not a valid argument against labor market deregulation?
a) deregulation produces income inequality
b) deregulation reduces wages
c) deregulation leads to crime
d) active labor market spending may be equally or more effective at reducing unemployment than deregulation
e) deregulation restricts employer choices
e) deregulation restricts employer choices
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Suppose that the cost of a loaf of bread in Zanadoo is 20 shillings, and this represents a full day's wages for the typical factory worker. The 20 shillings represents a ____ value while the loaf of bread costing a full day's wage represents a ____ value.
a) real; real b) nominal; nominal c) real; nominal d) nominal; real
In the summer of 2008, consumers indicated that they were less optimistic about the future of the economy. Such a change in sentiment is likely to
a. shift aggregate demand to the left. b. increase output. c. decrease unemployment. d. increase prices.