For the past several decades, union membership in the United States has been declining. What has been happening in the rest of the world?
A) Union membership has been increasing in almost every other country.
B) In almost every other nation, union membership has held constant.
C) In most cases, union membership in other nations has also been falling.
D) We do not know because other nations do not keep these statistics.
C
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A monopolistic competitor faces a horizontal demand curve.
Answer the following statement true (T) or false (F)
Assume the graph shown represents Dana's budget constraint. If Dana's income to spend on these two items decreased, which of the following could be said?
A. Dana will buy more hairbands now because they are relatively less expensive.
B. Dana will be able to buy less of both goods.
C. Dana will derive more utility from each item, because she values each one more now that she's poorer.
D. All of these are true.
One of the most important determinants of accelerated economic growth is: a. relaxed property rights
b. an increase in population. c. a high level of savings. d. an increased rate of consumption.
If the expenditure multiplier is 2.5 and investment spending increases by $2,000 billion, what will be the change in GDP?
a. $2,000 billion b. $5,000 billion c. $571.4 billion d. $3,500 billion e. $7,000 billion