Collective bargaining involves negotiations over
A. pay.
B. working conditions.
C. fringe benefits.
D. All of these choices are correct.
D. All of these choices are correct.
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Consider a firm that operates in a perfectly competitive market. The firm is producing at its profit maximizing output level. If this is true, then a. average revenue is maximized
b. the firm must be earning a positive economic profit. c. marginal revenue is greater than the market price. d. price must be equal to marginal cost.
If purchasing-power parity holds, then the value of the
a. real exchange rate is equal to one. b. nominal exchange rate is equal to one. c. real exchange rate is equal to the nominal exchange rate. d. real exchange rate is equal to the difference in inflation rates between the two countries.