In 2011, about ____ percent of employed wage and salary workers belonged to unions
A. 8.4
B. 5.5
C. 14.8
D. 11.8
Answer: D
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If the quantity of money demanded is greater than the quantity supplied, then in the short run the
A) demand for financial assets increases. B) price of financial assets rises. C) nominal interest rate rises. D) nominal interest rate falls. E) price level rises.
For a monopoly market, if the Lerner Index is 2, then
A) the monopoly is maximizing its profit. B) the price elasticity of demand is -2. C) the price elasticity of demand is -0.5. D) None of the above.
To offset increased pessimism by households, the government may _____ government spending and/or _____ taxes
Fill in the blank(s) with correct word
Suppose a good has a demand curve given by Q = 20 - 8 × P. What is the price elasticity of demand if the price is $2?
A. -4 B. -1/16 C. 1/2 D. -1/2