Unions tend to ________ import restrictions and ________ a higher minimum wage
A) favor; favor
B) favor; oppose
C) oppose; favor
D) oppose; oppose
A
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If the price exceeds the average variable cost, by producing the level of output such that marginal revenue equals marginal cost, the firm ensures that it will
A) earn an economic profit. B) not suffer any losses. C) earn the largest profit possible. D) survive in the long run.
A higher bond price indicates a lower cost of new external funds
Indicate whether the statement is true or false
If the reserve ratio is 8 percent, then the money multiplier is
a. 12.5. b. 11.5. c. 13.5. d. 8.
An important development during the Great Recession (roughly 2008-2012) was that
A. the unemployment rate increased dramatically but the average unemployment spell remained constant at about 8 weeks of unemployment. B. more than 35 percent of all unemployed workers remained unemployed for more than 26 months. C. the amount of frictional and seasonal unemployment increased dramatically while the amount of structural unemployment decreased substantially. D. more than 70 percent of all unemployed workers exited unemployment within 5 weeks; however, most of this movement was due to the unemployed becoming discouraged and exiting the labor force rather than finding a job. E. most than 50 percent of all unemployed workers remained unemployed for 13 to 26 weeks.