Which of the following statements about unionization is true?
A. The public sector is not heavily unionized compared to the private sector.
B. Union membership has risen in the last 50 years as a result of globalization.
C. Work stoppages due to strikes have become less common, and shorter, in the last 50 years.
D. Labor unions can increase wages but have virtually no impact on benefits.
Answer: C
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The demand curve is:
A. a downward-sloping line that reflects the inverse relationship between price and quantity. B. an upward-sloping line that reflects the inverse relationship between price and quantity. C. a downward-sloping line that reflects the positive relationship between price and quantity. D. an upward-sloping line that reflects the direct relationship between price and quantity.
The difference between a nation’s value of its exports and imports is called the balance of _________.
a. trade b. payments c. goods d. shipments
The present value of a future payment to be received in three years is $1,000 . If the interest rate is 5%, what is the amount that will be paid in three years?
a. $1,150.00 b. $1,157.63 c. $1,215.51 d. $1,250.00
Efficiency is an important goal because when markets are efficient:
A. there are more resources available to achieve other goals. B. there is no need for government intervention in the economy. C. the poor benefit more than the wealthy. D. there is less income inequality.