The largest labor union in the United States is the
A) National Education Association.
B) International Brotherhood of Teamsters.
C) United Food and Commercial Workers International Union.
D) Service Employees International Union.
Answer: A
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Refer to the above table. Suppose the demand for smartphones rises because more people use the Internet with a smartphone. The new equilibrium price will be
A) $200. B) $275. C) more than $275. D) impossible to be determined given the information.
How income is distributed is typically measured using
A. The production of goods and services. B. Personal income. C. Wealth. D. In-kind income.
A college degree makes a person more productive according to
a. both the human-capital and the signaling theories of education. b. the human-capital but not the signaling theory of education. c. the signaling but not the human-capital theory of education. d. neither the human-capital nor the signaling theory of education.
In a communist economy,
A. the state controls the means of production. B. individuals decide what to produce, how to produce it and who gets it. C. economic decisions are decentralized. D. the market system is used to allocate resources.