In the United States the difference between union and non-union wages
A) does not exist.
B) currently averages about more than 100 percent.
C) has been narrowing.
D) tends to fall during a recession because union members typically have shorter-term contracts than do nonunion employees.
Answer: C
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The United States dollar has NOT been officially convertible to gold by international traders since
A) 1930. B) 1944. C) 1971. D) 1995.
The less responsive consumers are to a change in the price of a product, _____
a. the more price-elastic is the supply curve b. the more income-inelastic is the demand curve c. the more price-inelastic is the demand curve d. the more income-elastic is the supply curve e. the more price-elastic is the demand curve
Suppose output is $440 billion, government purchases are $40 billion, desired consumption is $320 billion, and net exports are $35 billion. Then desired investment equals
A. $45 billion. B. $30 billion. C. $20 billion. D. $35 billion.
When the total product curve is falling, the:
A. Marginal product of labor is zero B. Marginal product of labor is negative C. Average product of labor is increasing D. Average product of labor must be negative