It is estimated that, on the average and taking account of skill differentials, union wages are
A) 100 percent higher than nonunion wages.
B) less than nonunion wages.
C) 10-25 percent higher than nonunion wages.
D) 66 percent higher than nonunion wages.
E) equal to nonunion wages.
C
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Moe has a big exam tomorrow. He considered studying this evening, but decided to hang out with Curly instead. If neither activity involves any explicit costs, and Moe always chooses rationally, then it must be true that:
A. Moe gets less benefit from spending time with Curly than from studying. B. the opportunity cost of studying is greater than the value Moe gets from spending time with Curly. C. Moe gets more benefit from spending time with Curly than from studying. D. the opportunity cost of studying is less than the value Moe gets from spending time with Curly.
Jess owns a sandwich sho
A) 1.33. B) 0.75. C) 3.00. D) 4.00. E) 1.50.
Average labor productivity is defined as
A) per-capital real GDP divided by employment. B) nominal GDP divided by employment. C) per-capita nominal GDP divided by employment. D) real GDP divided by employment.
If the reserve requirement is 20 percent, and banks keep no excess reserves, an increase in an initial inflow of $100 into the banking system will cause an increase in the money supply of:
A. $100. B. $50. C. $20. D. $500.