Labor union membership, as a percent of workers, has steadily declined over the last several decades.
Answer the following statement true (T) or false (F)
True
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Total costs increase from $1500 to $1800 when a firm increases output from 40 to 50 units. Which of the following are true?
a. AVC rise by $300 b. AVC rise by $1800 c. AVC rise by $1500 d. AVC rise by $0
In the model discussed in Chapter 3, why do we assume G and T are exogenous?
What will be an ideal response?
In the U.S., over the past forty years,
A) exports as a percentage of GDP have increased, while imports has a percentage of GDP have decreased. B) exports as a percentage of GDP have decreased, while imports has a percentage of GDP have increased. C) both exports and imports as a percentage of GDP have decreased. D) both exports and imports as a percentage of GDP have increased. E) both exports and imports as a percentage of GDP have remained constant.
In 2012, what percentage of total income in the U.S. was earned by the richest fifth of all U.S. households?
a. 20% b. 30% c. 40% d. 50%