Unions are less likely to strike today than in the past because
a. real wages have increased over the last 20 years
b. employers are less willing to hire strike breakers
c. most workers in the U.S. are already union members
d. more workers, both union and nonunion, are willing to cross picket lines
e. many high-profile strikes (e.g., Caterpillar) have succeeded in winning job security
D
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Suppose the Chinese government regulates the price of food and forbids firms from setting a higher price. In this case the government is setting a
A) price floor. B) price ceiling. C) quota. D) tax.
Applied research: a. is designed to answer particular questions
b. is more open-ended than basic research. c. contributes less to visible output changes than does basic research. d. is research done by a firm to market a good. e. is research done by a firm during the production of a good.
Which of the following statements is true?
a. National income is total income earned by households whereas personal income is total income received by households (including transfer payments). b. Disposable personal income equals personal income minus personal taxes. c. The expenditures approach and the income approach yield the same GDP figure. d. All of these.
Which statement is true?
A. The poverty line is raised each year. B. The poverty line is lowered each year. C. The poverty line stays the same from one year to the next. D. None of these statements are true.