Which of the following is included in government expenditures when measuring GDP?
A) Social Security payments
B) unemployment compensation payments
C) pension payment made to past presidents
D) the current president's salary
D
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Which of the following nations is NOT part of OPEC?
A. Kuwait B. Indonesia C. Iran D. Mexico
Wanda owns a lemonade stand. She produces lemonade using five inputs: water, sugar, lemons, paper cups, and labor. Her costs per glass are as follows: $0.01 for water, $0.02 for sugar, $0.03 for lemons, $0.02 for cups, and $0.10 for the opportunity cost of her labor. She can sell 300 glasses for $0.50 each. What are Wanda's total accounting profits?
a. $150 b. $126 c. $96 d. $24
One World View table titled "Union Membership" shows the unionization rates for several countries including the United States. The decline in the U.S. unionization rate is the result of
A. The decline in worldwide competition. B. A relative decline in service industries. C. The growth of large firms relative to small firms. D. A relative decline in manufacturing.
Which statement is false?
A. The two basic ways that unions have of exerting power is inclusion and exclusion. B. A smaller percentage of the labor force is members of unions today than 35 years ago. C. Collective bargaining is the main arena of the power struggle between labor and management. D. None of the statements are false.