The National Restaurant Association states that the restaurant industry has an economic effect of more than $1.7 trillion annually in the United States,
with every dollar spent in restaurants generating an estimated total of $2.05 in spending in the economy. This indicates that the spending multiplier for the restaurant industry is equal to
A) 1.21. B) 1.70. C) 2.05. D) 4.25.
C
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Everything else equal, a decrease in the demand for dollars in exchange for the pesos:
A) will cause the dollars to depreciate against the pesos and will increase the quantity of dollars being traded in the foreign exchange market. B) will cause the dollars to depreciate against the pesos and will decrease the quantity of dollars being traded in the foreign exchange market. C) will cause the dollars to appreciate against the pesos and will decrease the quantity of dollars being traded in the foreign exchange market. D) will cause the dollars to appreciate against the pesos and will increase the quantity of dollars being traded in the foreign exchange market.
Roughly what percent of American families lived below the poverty line in 1960?
A) 8% B) 18% C) 28% D) 38% E) 48%.
________ is the process by which representatives from a union and from management negotiate a mutually agreeable contract specifying wages, employee benefits, and working conditions
a. Binding arbitration b. A strike c. Mediation d. Collective bargaining
Consider a price searcher industry with high barriers to entry. In the short run, total revenues of the monopoly exceeds total costs. What will happen in the long run?
A. Nothing, because would-be rival firms are prohibited from entering the industry or find the start-up costs too costly to warrant the entrepreneurial risk to enter the industry. B. Many firms will enter the market and each firm will eventually operate at a loss. C. firm will be making just enough to cover per unit costs. D. Additional firms will enter the market, but the price will remain the same because the existing firms will not allow price to decrease.