The following figure shows the net exports curve for a country:
-Refer to the figure above.When the real exchange rate is above R*,there is a trade surplus.
Definitions:
Wagner Act
Also known as the National Labor Relations Act of 1935, it established the legal right for workers to participate in unions and collective bargaining in the United States.
Unfair Labor Practice
Actions by employers or unions that violate the rights of employees under labor laws.
Taft-Hartley Act
A 1947 federal law that restricts the power and activities of labor unions.
Landrum-Griffin Act
This refers to a 1959 United States federal law that aims to protect union members from corrupt practices and to ensure democratic rights within unions.
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