Which of the following is NOT correct regarding the status of U.S. labor unions?
A) Today fewer than one in eight workers is a union member.
B) A key reason for the decline in union membership is the relative decline in manufacturing jobs as a share of total employment.
C) Greater domestic and global competition has had a part in bringing about a decline in unions.
D) Global trade has increased the number of union members in the United States.
D
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Farmers can choose to produce eggs and/or milk. If there is a successful advertising campaign for people to "drink milk," then what will be the effect in the egg market?
a. None, since consumers do not see eggs and milk as related goods. b. Egg demand will increase. c. Egg demand will decrease. d. Egg supply will increase. e. Egg supply will decrease.
If the equilibrium price of an airline ticket is $500 and the government imposes a price floor of $400 on airline tickets, then fewer airline tickets will be sold than at the market equilibrium
a. True b. False Indicate whether the statement is true or false
An export good is a good produced
A) in the United States and sold in other countries. B) in the United States and sold to foreigners living in the United States. C) in another country and purchased by U.S. residents. D) by foreigners in the United States and purchased by U.S. households. E) in another country and purchased by foreigners not residing in the United States.
Refer to Figure 24-1. Ceteris paribus, an increase in the growth rate of domestic GDP relative to the growth rate of foreign GDP would be represented by a movement from
A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.