Using the data in the table above, the demand for skirts is
A) elastic.
B) unit elastic.
C) inelastic.
D) indeterminate.
E) perfectly inelastic.
C
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The experience of the Teamsters in the late 1970s and early 1980s suggests that
a. there are few restraints on the ability of a strong union to increase the wages of its members. b. product market competition with goods made from (or services provided by) nonunion labor significantly limits the ability of a union to get increased wages for its members. c. higher wages tend to stimulate aggregate demand, which makes it easier for a union to gain still higher wages. d. wages are established by the relative skill of union and management negotiators, independent of market conditions.
In a recent survey of 574 employees, 15.5% indicated that they were not in favor of a particular plan. What is the level of confidence associated with the interval of 12.85% to 19.89%?
Which of the following are reasons to suspect spending on education might overestimate human capital investment?
A) Education spending leaves out foregone wages. B) Part of total spending on education is really consumption. C) Much human capital investment comes from on-the-job training. D) all of the above E) none of the above
Anne works as a babysitter. She uses her wage as a babysitter to buy a pair of roller skates. In this case, money served the function of ________
A) a medium of exchange B) a unit of account C) a store of value D) a means of deferred payment