Which of the following is not "crowded out" by higher interest rates as a result of expansionary fiscal policy?
A) net exports B) private investment
C) consumption D) government spending
D
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Surplus value that is lost because something is keeping the market from functioning as well as it can is known as ________
Fill in the blank(s) with correct word
Which amount is not included in gross domestic product?
A) Payments to a physician for treatment of a respiratory condition caused by air pollution B) The purchase price of a used car bought from a friend C) Wages of government employees D) Wages of people who clean up toxic chemical spills E) Wages of people who sell used cars
A constant-cost, perfectly competitive market is in long-run equilibrium. At present, there are 1,000 firms each producing 400 units of output. The price of the good is $60
Now suppose there is a sudden increase in demand for the industry's product which causes the price of the good to rise to $64. In the new long-run equilibrium, how will the average total cost of producing the good compare to what it was before the price of the good rose? A) The average total cost will be the same as it was before the price increase. B) The average total cost will be lower than it was before the price increase because of economies of scale. C) The average total cost will be higher than it was before the price increase because of diseconomies of scale arising from the increased demand. D) The average total cost will be higher than it was before the price increase since the increase in demand will drive up input prices.
In 2005, which union organization was formed out of the AFL-CIO membership?
A) National Brotherhood of Teamsters B) Service Employees International Union C) American Federation of Workers D) Change to Win