Union membership, in terms of percentage of the U.S. civilian labor force
A) has increased steadily since the passage of the Wagner Act.
B) peaked about 1960 and has since declined.
C) was over 50 percent in 1987.
D) has increased dramatically since 1970.
Answer: B
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The Fed buys $50,000 of government securities. The desired reserve ratio is 10 percent and the currency drain ratio is zero. What will be the change in the quantity of money?
A) $0 B) $5,000 C) $50,000 D) $5,000,000 E) $500,000
A perfectly competitive firm incurs a loss in the short run, if at the profit maximizing level of output:
a. the marginal revenue curve lies below the marginal cost curve. b. the marginal revenue curve lies above the average revenue curve. c. the average cost curve lies below the average revenue curve. d. the average revenue curve lies below the average cost curve. e. the marginal revenue curve lies above the marginal cost curve.
The opportunity cost of attending college is likely to include all except which of the following?
a. the cost of required textbooks b. tuition fees c. the income you forego in order to attend classes d. the cost of haircuts received during the school term
When government expenditures exceed government revenues a budget surplus will exist
Indicate whether the statement is true or false