During the last two decades union membership as a percentage of the labor force has
A. been rising.
B. stayed about the same.
C. been declining.
C. been declining.
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When a private transaction imposes costs on others not directly involved in the transaction, _____
a. a negative externality exists b. a positive externality exists c. the good involved in the transaction is a club good d. the tragedy of commons problem arises e. a free rider problem arises
Who buys and sells in the Fed funds market?
A. Financial institutions and large corporations B. Anyone with a computer and an Internet connection can participate C. Only commercial banks and depository institutions D. All large financial institutions
A. $4 or less. B. $3.90 or less. C. $3.50 or less. D. $3.40 or less
A. $1 or less. B. $.75 or less. C. $1.75 or less. D. $2 or less.
Demand is inelastic only if
a. price elasticity has an absolute value of 1 b. price elasticity has an absolute value greater than 1 c. price elasticity has an absolute value less than 1 d. price elasticity is negative e. consumers do not respond to a change in price