The share of the labor force that was unionized fell from more than 30 percent in the 1950s to less than 15 percent in the 2000s. During this time period, the share of national income allocated to labor (in contrast to capital)
a. decreased by approximately 10 percent.
b. decreased by more than 15 percent.
c. increased by 10 percent.
d. was virtually unchanged.
D
You might also like to view...
Assuming that beef and chicken are substitutes, an increase in the price of beef, other things being equal, will:
a. increase the demand for chicken. b. decrease the demand for chicken. c. not change the demand for chicken. d. decrease the demand for beef.
If a sizable number of workers were switched from full-time to half-time employment, then the official unemployment rate would:
A. rise. B. fall. C. remain unchanged. D. react unpredictably.
Suppose a developing country is falling further behind the developed countries that it neighbors. As an economic consultant, you are called to look at its policies to recommend changes. If you saw all of the following on your visit, which of them could be an explanation for the slow growth in the economy?
A. You see that the roads, bridges, and ports are in great shape thanks to the work of the World Bank. B. You see that new companies require few licenses to move their exports. C. You see that the central bank does not pay attention to what the elected officials want. D. You see that literacy rates are much below those of its developed neighbors.
Suppose the government levies a per-unit tax on TVs, and this tax increases the price of TVs by $10. a. On a graph with TVs on the horizontal axis and "$'s of other consumption" on the vertical, illustrate how the budget constraint for a consumer with exogenous income changes as a result of the tax. b. Suppose you know the bundle on the after-tax budget that is chosen by the consumer. Illustrate on your graph how much in tax revenue the government is raising from this consumer. c. If the government replaced the tax on TVs with a lump sum tax that does not alter any prices but raises the same amount of revenue from the consumer, how would this consumer's budget constraint change?
What will be an ideal response?