All of the following are true regarding the current status of labor unions EXCEPT
A) organized labor's heyday occurred from the 1940s through the 1970s.
B) part of the explanation for the decline in union membership has to do with the shift away from manufacturing.
C) the deregulation of certain industries has also contributed to a decline in unionism.
D) recent labor laws have diminished worker's rights.
D
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Mitt Romney argued in a debate with President Obama that the economy had grown more slowly in each year of the President's term than in the year prior to Obama’s presidency. This claim is most related to the field of:
A. microeconomics. B. public policy. C. macroeconomics. D. financial economics.
The equation for aggregate expenditure can be written as:
A. C+I+GDP B. C+Inventory+G+NX C. C+I+G+NX D. C+I+G+Exports
Capital flight is a barrier to economic growth in developing countries.
Answer the following statement true (T) or false (F)
Would a profit-maximizing firm sell where demand is inelastic?
A. No, this would not follow the rule of MC = MR. B. No, the firm could not profitably raise price. C. Yes, the firm could profitably lower price to attract sales. D. Yes, in this case there are few substitutes for the good.