Which statement best describes international comparisons of unionization rates?
A. Private sector unionization is about the same (around 20%) in all developed countries.
B. Private sector unionization rates exceed public sector unionization rates in all developed countries.
C. Private sector unionization rates have fallen significantly in all developed countries over the last 40 years.
D. Private sector unionization is greater in less-developed countries than in developed countries.
E. Private sector unionization rates vary greatly by country.
Answer: E
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Suppose the following information describes the economy:Household saving300Business saving700Government purchases1,000Government transfers and interest payments500Government tax collections1,500GDP5,000Private saving equals ____and national saving equals ________.
A. 1,000; 1,000 B. 700; 0 C. 1,000; 2,000 D. 300; -200
The minimum value of the Herfindahl-Hirschman Index is
A) -100. B) -1. C) approximately 0. D) 1.
The most significant problem in trying to empirically measure the real rate of interest is that
A) there are so many different types of bonds. B) expected inflation is unobservable. C) interest rates fluctuate so much from day to day. D) banks infrequently change the prime rate of interest.
Because automatic stabilizers exist in the United States economy
A. during a recession, transfer payments automatically rise and tax revenue drops; during a period of economic recovery, transfer payments fall and tax revenue rises. B. real wages automatically adjust to keep the labor force fully employed at all stages of the business cycle. C. monetary policy is designed to automatically respond to changes in money demand. D. during a recession, the government's budget deficit automatically becomes smaller. E. All of the choices/statements are true.