Authoritative estimates suggest that currently union workers on the average:
A. achieve no wage advantage over nonunion workers in the same occupation.
B. realize a 5 percent wage advantage over nonunion workers in the same occupation.
C. realize a 20-30 percent wage advantage over nonunion workers in the same occupation.
D. realize a 15 percent wage advantage over nonunion workers in the same occupation.
Answer: D
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When gold production was low in the 1870s and 1880s, the money supply grew ________ causing ________
A) rapidly; inflation B) rapidly; disinflation C) slowly; deflation D) slowly; disinflation
For market prices that are below the shut-down point of every firm in the market, the short-run market supply curve
a. slopes upward b. slope downward c. follows the horizontal axis d. rises at a 45-degree angle e. follows the vertical axis
In an open? economy, if the federal government has a budget? deficit, the trade balance is more likely to be
A. a surplus. B. either a deficit or surplus; it depends on macroeconomic conditions. C. a deficit. D.balanced.
The problem faced by farms in the long run as portrayed in the diagram would involve price and quantity changes from:
A. P 2 to P 3 and Q 1 to Q 4 .
B. P 1 to P 4 and Q 1 to Q 4 .
C. P 2 to P 1 and Q 1 to Q 2 .
D. P 4 to P 1 and Q 4 to Q 1 .