The effect of unions tends to ____ output in the union sector and ____ output in the non-union sector
a. increase; increase.
b. increase; decrease.
c. decrease; increase.
d. decrease; decrease.
c
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As the interest rate increases, consumers will tend to increase their amount of saving due to
a. increased profit b. their greater reliance on borrowing c. the lower opportunity cost of current consumption d. diminishing marginal utility e. the higher opportunity cost of current consumption
Approximately ____ percent of federal government spending in 2007 was for transfer payments and interest payments
a. 5 b. 10 c. 55 d. 30 e. 75
When a reduction in the price of a good allows a consumer to purchase more of all goods, this effect is called the:
A. income effect. B. substitution effect. C. elasticity effect. D. monetary effect.
Suppose life becomes more unpredictable and households decide to increase their precautionary savings. In this case, the loanable funds model predicts that
A) interest rate goes down, and quantity of borrowed funds increases. B) interest rate goes down, and quantity of borrowed funds decreases. C) interest rate goes up, and quantity of borrowed funds decreases. D) interest rate goes up, and quantity of borrowed funds increases.