The economic power of large employers has been somewhat offset by the rise of ________.
Fill in the blank(s) with the appropriate word(s).
unions
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If businesses spend an additional $150 billion for investment projects in 2010, what will be the impact on national income (Y) if the multiplier is 2?
A. Y will increase by $50 billion. B. Y will increase by $150 billion. C. Y will increase by $300 billion. D. Y will increase by $450 billion.
The slope of an isoquant is equal to the ratio of the price of the input on the horizontal axis divided by the price of the input on the vertical axis, multiplied by -1
Indicate whether the statement is true or false
Which of the following statements concerning the long-run average cost (LRAC) curve is correct?
A) The LRAC curve represents the least-cost input combination of inputs for producing each level of output. B) The LRAC curve is derived from a series of short-run marginal cost curves. C) The short-run cost curve at the minimum point of the LRAC curve represents the least-cost plant size for all levels of output. D) As output increases, the amount of capital employed by the firm is held constant along the LRAC curve.
Which of the following curves in the IS—LM model is vertical?
A) The IS curve B) The LM curve C) The FE line D) The AD curve