The demand for Nike shoes is _________________ than the demand for shoes in general
a. More elastic
b. More inelastic
c. Less elastic
d. Less inelastic
a
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It is estimated that, on the average and ________, union wages are ________ because ________
A) taking account of skill differentials; 30 percent higher than nonunion wages; union workers are better qualified than nonunion workers B) without taking account of skill differentials; equal to nonunion wages; differentiating based on union membership is discrimination and illegal C) without taking account of skill differentials; 15-20 percent higher than nonunion wages; employers are biased against nonunion workers D) taking account of skill differentials; 30 percent higher than nonunion wages; in some industries union workers perform jobs that require greater skill than nonunion workers and employers show bias against nonunion workers E) without taking account of skill differentials; 30 percent higher than nonunion wages; in some industries union workers perform jobs that require greater skill than nonunion workers
Refer to Figure 2-4. Unemployment could cause this economy to produce at which point(s)?
a. Q, S
b. Q, S, T
c. R, U
d. T
Bank C promises to pay a compound annual interest rate of 6 percent, while Bank S pays a 10 percent simple annual interest rate on deposits. If you deposit $1,000 in each bank, after 10 years, your deposit in Bank C equals ________, while your deposit in Bank S equals ________.
A. $1,791; $2,000 B. $1,600; $2,594 C. $1,600; $2,000 D. $1,060; $1,100
When firms hold excess labor, the value of the multiplier increases.
Answer the following statement true (T) or false (F)