During Business Cycle Expansions When Income and Wealth Are Rising,the

question 24

Multiple Choice

During business cycle expansions when income and wealth are rising,the demand for bonds ________ and the demand curve shifts to the ________,everything else held constant.

• A)falls;right
• B)falls;left
• C)rises;right
• D)rises;left

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Definitions:

Strike

The withholding of labor services by an organized group of workers (a labor union).

Exclusive Union

A labor union that only represents workers from a particular company or industry, often having restrictive membership criteria.

Labor Supply

The total hours that workers are willing and able to work at a given wage rate in a specified time period.

Minimum Wage

The lowest legally permissible wage that employers can pay their employees.