Which statement is the most accurate?
A. Labor unions today have very little economic power.
B. Large employers today have very little economic power.
C. Every few years a strike virtually shuts down our economy.
D. Since WWII, the economy has never lost as much as one half of 1% of its work time because of strikes.
D. Since WWII, the economy has never lost as much as one half of 1% of its work time because of strikes.
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Nonfinancial businesses in Germany, Japan, and Canada raise most of their funds
A) by issuing stock. B) by issuing bonds. C) from nonbank loans. D) from bank loans.
In macroeconomics, what describes a situation in which two people each want to exchange some good or service that the other can provide?
a. medium of exchange b. double coincidence of wants c. interrelated banking d. the usefulness of money
If a tax is imposed on a market with inelastic supply and elastic demand, then
a. buyers will bear most of the burden of the tax. b. sellers will bear most of the burden of the tax. c. the burden of the tax will be shared equally between buyers and sellers. d. it is impossible to determine how the burden of the tax will be shared.
The price elasticity of demand for food is
A. Perfectly inelastic. B. Perfectly elastic. C. Relatively inelastic. D. Relatively elastic.