In the 1940s and 1950s, about one-third of U.S. workers belonged to unions, but today, only about one-fifth of U.S. workers belong to unions
a. True
b. False
Indicate whether the statement is true or false
False
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A decrease in the price of one good results in a parallel shift in the budget line.
Answer the following statement true (T) or false (F)
Sunk costs are irrelevant to economic decisions because
A) they are merely opportunity costs rather than monetary expenditures. B) they cannot affect a firm's net revenue. C) they do not appear on financial statements. D) they represent no opportunity for choice.
Suppose that the market price for hot dogs sold by street vendors has just risen from $4.50 to $5.00, and that in response Curly has now begun operating a hot dog cart. We can assume that Curly's reservation price for hot dogs is:
A. $5.00. B. greater than $4.50 but no more than $5.00. C. at least $5.00. D. $4.50.
Cash is an example of a liquid financial asset.
Answer the following statement true (T) or false (F)