From the 1950s to the 1980s, union membership in the United States, measured as a percentage of the labor force, remained fairly constant at
a. 10 percent
b. 18 percent
c. 25 percent
d. 36 percent
e. 55 percent
C
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A total product curve shows the
A. aggregate output of many firms in an industry. B. amount of product consumers will take off the market. C. maximum amount of product that it is technically possible to produce. D. relationship between units of inputs and total output.
The quantity demanded for a good
A) must equal the quantity actually sold. B) can be less than the quantity actually sold. C) can be greater than the quantity actually sold. D) is always greater than the quantity actually sold.
If MPC = 0.75, a $40 billion decrease in government purchases would have what size effect on the "first round" of induced added consumption?
a. $30 billion b. $40 billion c. $120 billion d. $160 billion
If the interest rate is 5 percent, the net present value of $200 to be received two years from now is
a. $165.29. b. $181.41. c. $200. d. $210.