If the Commerce Department Adjusts the Growth Rate of GDP

question 220

Multiple Choice

If the Commerce Department adjusts the growth rate of GDP downward for the first quarter of 2018,and the Bureau of Labor Statistics adjusts the number of hours worked upward for the first quarter of 2018,what will the Bureau of Labor Statistics do in terms of revising the figures on the growth rate of labor productivity for the first quarter of 2018?

• A)The BLS will adjust the growth rate downwards.
• B)The BLS will adjust the growth rate upwards.
• C)The BLS will not change the growth rate of productivity.
• D)The BLS will adjust the level of labor productivity upward and the growth rate downward.

Understand the differences between craft and industrial unions, the basic process of negotiating labor contracts, the importance of contract negotiation for unions, and methods for improving labor-management cooperation.

Understand the concept and purpose of analytical comparisons in research.

Differentiate between planned, unplanned, a priori, and post hoc comparisons.

Interpret the results of an F-ratio in hypothesis testing.

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Definitions:

Workers' Compensation

State programs that provide benefits to workers who suffer work-related injuries or illnesses, or to their survivors.

Employee Retirement Income Security Act

A federal law that sets minimum standards for most voluntarily established pension and health plans in private industry to provide protection for individuals in these plans.

ERISA

The Employee Retirement Income Security Act (ERISA) is a federal law that sets minimum standards for most voluntarily established pension and health plans in private industry to provide protection for individuals in these plans.

Vested

A term used to describe the point at which an employee has earned the right to keep all their benefits, often from retirement plans, regardless of their employment status with the company.