Union membership has been falling since the year ________.
Fill in the blank(s) with the appropriate word(s).
1980
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Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
For direct price discrimination to work,
a. The firm need not be able to identify members of the low-value group b. The firm must charge a single price to all its customers c. The firm need not worry about any arbitrage since all its customers are charged the same price d. None of the above
If total product is rising as more workers are hired, MPP must be positive
Indicate whether the statement is true or false
Most banks in the United States are owned by the government and operate as nonprofit institutions
a. True b. False Indicate whether the statement is true or false