Which of the following groups is most highly unionized?
a. private wage and salary workers
b. government employees
c. technical, sales, and service workers
d. women
B
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As a shoe factory adds more workers, shoe production grows, reaches a maximum, and then shrinks
In a diagram that has the number of workers on the horizontal axis and the number of shoes on the vertical axis, the relationship between the number of workers and the number of shoes starts as ________ and then, after the maximum point, is ________. A) negative; positive B) positive; linear C) positive; negative D) positive; nonexistent E) linear; negative
An investment pays $100 at the end of each of the three next years. No additional payments will ever be made. If the annual interest rate is 5 percent, the present value of the investment is approximately
A) $250. B) $272. C) $288. D) $300.
Assume that China has a comparative advantage in producing corn and exports corn to Japan. We can conclude that
A) Labor costs are higher for corn producers in Japan than in China. B) China also has an absolute advantage in producing corn relative to Japan. C) Japan has an absolute disadvantage in producing corn relative to China. D) China has a lower opportunity cost of producing corn relative to Japan.
What makes the Federal Reserve so unique compared to other central banks around the world is its
A) centralized structure. B) decentralized structure. C) regulatory functions. D) monetary policy functions.