Strikes are expensive for
a. workers only because their income falls
b. employers only because their revenue falls
c. the public only because output falls
d. both the public and employers because workers are compensated by the union for lost income
e. workers, employers, and the public
E
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A bond with default risk will always have a ________ risk premium and an increase in its default risk will ________ the risk premium
A) positive; raise B) positive; lower C) negative; raise D) negative; lower
In the late 1990s, Thailand, Malaysia, and Indonesia all experienced sharp declines in the value of their currencies; this resulted in economic instability and crisis. The collapse in the values of their currencies undermined their development by:
A. decreasing political instability. B. decreasing population growth. C. increasing corruption. D. reducing investment.