Which of the following statements is correct?
a. Approximately 50 percent of our national income is allocated to human capital, while the remaining 50 percent is allocated to physical capital in the form of rents, interest, and corporate profits.
b. As union membership as a share of the U.S. labor force has declined during the last three decades, the share of national income allocated to physical capital has risen.
c. Unions have consistently opposed minimum wage legislation because it tends to cause unemployment.
d. During the past several decades, the share of output going to capital has been virtually constant, even though union membership as a share of the labor force has decreased.
D
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______________ are events that cause stress, often requiring changes in normal patterns of behavior
a. Disappointments b. Crises c. Sports activities d. Office meetings
When buying a car from a commission salesman you improve your bargaining position by
a. shopping when the new model year cars have just arrived b. shopping when the showroom is full of customers c. shopping when the car lot has few cars left unsold d. shopping toward the end of the month
If periodic use of a resource can be continued indefinitely, that resource is said to be
a. removable b. renewable c. cyclical d. recyclable e. part of a common pool
If the price of a depleting resource does not rise as anticipated, it may be because: a. new reserves of the resource were discovered
b. new methods of mining or refining were developed. c. price controls were passed by law. d. All of the above are correct.