Currently about what percentage of the civilian labor force is unionized in the United States?
A. 55 percent
B. 1 percent
C. 12 percent
D. 70 percent
Answer: C
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Scott used $4,000,000 from his savings account that paid an annual interest of 5% to purchase a hardware store. After one year, Scott sold the business for $4,100,000 . His accounting profits is:
a. $300,000 b. $100,000 c. $80,000 d. $20,000
The tax multiplier is smaller than the income multiplier
Indicate whether the statement is true or false
In economics, the term marginal refers to
a. the change or difference between two alternatives. b. man-made resources as opposed to natural resources. c. the satisfaction a consumer receives from a good. d. holding everything else constant in the analysis.
Which of the following is an example of representative money?
(A) An IOU note (B) Gold earrings (C) A fur coat (D) Diamonds