Union leaders who focus on increasing the size of their union will generally accept a wage just above the competitive level
a. True
b. False
Indicate whether the statement is true or false
True
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Which area in the above figure shows the consumer surplus at the price and quantity that would be set by a single-price monopoly?
A) A + B B) A + B + C + D + E C) C + D D) C + D + E + F + G + H
Suppose output is $440 billion, government purchases are $40 billion, desired consumption is $320 billion, and net exports are $35 billion. Absorption is equal to
A) $405 billion. B) $420 billion. C) $435 billion. D) $440 billion.
A worker can begin receiving benefits as early as age 58.
A. True B. False C. Uncertain
When the Fed raises the discount rate, it
a. lowers the cost of borrowing from the Fed, allowing banks to make more loans b. raises the cost of borrowing from the Fed, disallowing banks from making the same quantity of loans c. increases the amount of excess reserves that banks hold, allowing them to make more loans d. increases the amount of excess reserves that banks hold, disallowing them from making the same quantity of loans e. decreases the amount of excess reserves that banks hold, disallowing them from making the same quantity of loans