The union participation rate in the United States is
a. highest among government employees
b. highest among private sector workers
c. highest in the smokestack industries
d. highest in the service sector
e. higher than in Sweden
A
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If a foreign currency becomes more expensive in United States dollars, we would expect
a. U.S. exports to increase b. U.S. imports to increase c. U.S. exports to remain constant d. U.S. exports to decrease e. the quantity of foreign currency demanded in the United States to rise
If the Fed wishes to increase the money supply it could
a. decrease the discount rate. b. decrease reserve requirements. c. buy government securities on the open market. d. Do any of the above.
Because suppliers can more readily adjust their output in the long run than in the short run, we expect price elasticity of supply to be
a. negative in the long run and positive in the short run b. positive in the long run and negative in the short run c. greater than one in the short run and less than one in the long run d. higher in the long run than in the short run e. higher in the short run than in the long run
The W = MRP ethic states that individuals are paid according to the value of their opportunity cost
Indicate whether the statement is true or false