The United Automobile Workers union can select the most favorable point on the demand curve for labor and the auto manufacturing companies can do nothing in response
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to the scenario above. If they are the only bidders in the auction and each bidder uses his optimal strategy, the maximum price the winner is likely to pay is ________
A) $210 B) $350 C) $500 D) $625
In the Great Depression of the 1930s, the unemployment rate in the U.S. climbed to what percentage?
A) 5 B) 10 C) 15 D) 20 E) 25
An increase in the marginal propensity to hold money
a. results in an fall in the interest rate and a decline in income. b. raises the interest rate and lowers income. c. results in a fall in the interest rate and a rise in income. d. raises both the interest rate and income.
In which case is the political process most likely to result in the acceptance of efficient projects and rejection of inefficient projects?
a. The benefits are highly concentrated, and costs are widespread among voters. b. The costs are highly concentrated, and the benefits are widespread among voters. c. Both the benefits and costs are widespread among voters. d. The benefits accrue primarily in the future, while the costs are more visible during the current period.