Union membership declined during the 1920s due to:
a. failure of a number of strikes.
b. increase in real wages left the labor force satisfied.
c. firms' use of "yellow-dog" contracts.
d. poor union leadership.
e. All of the above.
e. All of the above.
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In the figure above, the shift in the supply of loanable funds curve from SLF1 to SLF2 could be the result of
A) an increase in expected rate of profit. B) a decrease in disposable income. C) an increase in expected future disposable income. D) an increase in the real interest rate. E) a decrease in wealth
The concept of "the invisible hand" suggests that to attain efficiency, the government should
A) guide economic activity. B) set prices. C) leave prices and output decisions to the competitive market. D) regulate all production decisions, but not price decisions. E) make sure that a command system is used to allocate resources.
Suppose that last year $1 U.S. exchanged for 1.2 euros. If this year $1 exchanges for 1.3 euros, then we can conclude that
A) the dollar is weaker this year than it was last year and this will cause the United States' short-run aggregate supply (SRAS) curve to shift to the left. B) the dollar is weaker this year than it was last year and this will cause the United States' short-run aggregate supply (SRAS) to shift to the right. C) the dollar is stronger this year than it was last year and this will cause the United States' short-run aggregate supply (SRAS) curve to shift to the left. D) the dollar is stronger this year than it was last year and this will cause the United States' short-run aggregate supply (SRAS) curve to shift to the right.
Police protection in a community is an example of a _____
a. merit good b. club good c. public good d. private good