A situation in which union membership is required before a person can be hired is a
A) closed shop.
B) union shop.
C) agency shop.
D) restricted shop.
A
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A measure of the average price of a given class of goods or services relative to the price of the same goods and services in a base year is called a:
A. real quantity. B. rate of inflation. C. price index. D. real price.
The demand for money curve shifts rightward if
A) the price level increases. B) real GDP increases. C) the nominal interest rate increases. D) the real interest rate decreases.
A member of the labor force is defined as someone who is _______ .
a.already employed or actively seeking work. b.who is above the age of 16. c.who is employed. d.who is employed on a part-time basis. e.already employed on a full-time basis.
In the figure above, what is the point price elasticity of demand when price is $40?
A. -1.50 B. -0.50 C. -1.00 D. -0.75 E. -2.00