For the Goods Market to Be in Equilibrium in a Closed

question 76

Multiple Choice

For the goods market to be in equilibrium in a closed economy,which of the following must be TRUE?

• A) Y = S + I + G
• B) S + I = C + G
• C) S + G = Y + C
• D) S = I

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Definitions:

Private Sector Unionization

The process or state of organizing workers into unions within privately owned businesses, as opposed to public sector or government employees.

Conspiracy Doctrine

A legal theory that views a combination of workers for the purpose of demanding better working conditions or wages as a criminal conspiracy.

National Labor Relations Act

A foundational U.S. law enacted in 1935 that protects the rights of employees to organize, engage in collective bargaining, and take collective action including strikes.

Commonwealth Vs. Hunt

A landmark 1842 Massachusetts Supreme Court case that ruled labor unions and strikes were lawful.