Suppose in some economy there are 100 million workers; 10 million of those workers work in retail trade, and 1 million of the retail workers belong to unions. Total union membership in this economy is 40 million. The rate of unionization in retail trade
is:
A. 1 percent.
B. 10 percent.
C. 40 percent.
D. 100 percent.
Answer: B
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In general equilibrium
A) supply equals demand for all goods in all periods. B) supply equals demand for most goods in all periods. C) supply equals demand in present value, but not in all periods. D) prices are exogenous.
A firm charges each customer the highest price that customer will pay for the marginal unit under
a. perfect competition b. oligopoly c. monopolistic competition d. single-price monopoly e. perfect price discrimination
A country's trade balance
a. must be zero. b. must be greater than zero. c. is greater than zero only if exports are greater than imports. d. is greater than zero only if imports are greater than exports.
Karina's leg was in a cast for ten weeks. You would expect her leg muscles to experience some degree of:
A. atrophy. B. circumduction. C. hypertrophy. D. rotation.