What time period in U.S. history do we generally recognize as the peak of labor union membership?
A. 1940s-1970s
B. 1900s-1920s
C. 1920s-1940s
D. 1970s-2000s
Answer: A
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The Coinage Act of 1792 set the relative values of silver and gold coins at 15 to 1 . Suppose the relative market values of silver and gold had equaled 16 to 1 . In this case,
a. only gold would circulate as money. b. gold would be hoarded and sold abroad. c. gold would be overvalued at the mint. d. individuals would profit by selling gold to the mint.
A house is a private good because it is nonrival and nonexcludable
Indicate whether the statement is true or false
All other factors held constant, when McDonald's raises the price of its Big Mac by 20 cents,
A. there is likely to be an increase in demand for Taco Bell's Chalupas, assuming the Big Mac and Chalupas are substitutes. B. there is likely to be an increase in demand for McDonald's Big Mac, assuming the Big Mac and Chalupas are substitutes. C. there is likely to be a decrease in demand for Taco Bell's Chalupas, assuming the Big Mac and Chalupas are substitutes. D. there is likely to be a decrease in the quantity of Taco Bell's Chalupas demanded, assuming the Big Mac and Chalupas are substitutes.
A consumer will achieve the highest level of utility possible when she consumes
A) at the point at which the highest indifference curve is tangent to the budget constraint. B) at the point at which the indifference curve crosses the budget constraint. C) at a point to the left of the budget constraint. D) just below the point where the indifference curve crosses the budget constraint.