Suppose that the labor movement has a revival in the United States and the majority of workers join labor unions. As a result we would expect
A) the unemployment rate to fall.
B) the unemployment rate to rise.
C) no change in the unemployment rate, but a decrease in the natural rate of unemployment.
D) an increase in the unemployment rate, but a decrease in the natural rate of unemployment.
B
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Use the figure below, and the regular percentage change formula, to answer the following question: 
Assume that price decreases from $10 to $2. The price elasticity of supply is about
A. 0.35 and supply is inelastic. B. 1 and supply is unit-elastic C. 4 and supply is elastic. D. 1.25 and supply is elastic.
You go to work today, but will get your paycheck at the end of the month. This is an example of money serving as a
A) store of value. B) unit of accounting. C) standard of deferred payment. D) medium of exchange.
Adam Smith's book, one of the first systematic treatments of economics, was entitled
a. The Plan of the Ages. b. The General Theory of Money, Taxes, and Income. c. The Wealth of Nations. d. Principles of Economics. e. Concepts in Moral Philosophy.
If the required reserve ratio, m, is 20 percent, then the oversimplified money multiplier is
A. 10 B. 5 C. 4 D. 2