The unionization rate in the United States has been
A. Declining for over 40 years.
B. Increasing for the last 5 years.
C. Declining for approximately 15 years.
D. Declining for approximately 30 years.
Answer: A
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In game in Scenario 13.8, what will occur if IVY Corp plays a maximin strategy?
A) $1, $10 B) $1, -$5000 C) $2, $0 D) $2, $2 E) There is a .25 chance of each outcome in that case.
In the aggregate demand/aggregate supply model, when the output of an economy is less than its long-run potential, the economy will experience
a. declining real wages and interest rates that will stimulate employment and real output. b. rising interest rates that will stimulate aggregate demand and restore full employment. c. a budget surplus that will stimulate demand and, thereby, help restore full employment. d. rising real wages and real interest rates that will restore equilibrium at a higher price level.
Assume that there is no way to prevent someone from using an interstate highway, regardless of whether or not she helps pay for it. This characteristic is associated with:
A. rival goods. B. complementary goods. C. capital goods. D. public goods.
When the economy is producing its potential output, an increase in government spending must necessarily reduce some component of private spending. This phenomenon is called:
A. fiscal policy. B. crowding out. C. the multiplier effect. D. entitlement spending.