Labor unions in the United States
A. tend to be more outspoken politically than those in Europe.
B. have experienced steady declines in membership since the 1950s.
C. tend to be more powerful in deregulated industries (e.g., airlines) than in regulated industries.
D. universally support socialist principles.
Answer: B
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Economic activity that is above potential output ________
A) signals that potential output is about to increase B) is not possible C) results from an economic shock to which the economy has yet to adjust fully D) occurs near the trough, rather than the peak, of a business cycle E) none of the above
Other things the same, if reserve requirements are increased, the reserve ratio
a. increases, the money multiplier increases, and the money supply increases. b. increases, the money multiplier decreases, and the money supply decreases. c. decreases, the money multiplier increases, and the money supply increases. d. decreases, the money multiplier decreases, and the money supply increases.
Assume that U.S. imports remain constant while U.S. exports change, ceteris paribus. Which of the following statements is correct?
a. A decrease in U.S. exports increases U.S. net exports. b. An increase in U.S. exports shifts the aggregate demand curve rightward. c. An increase in U.S. exports decreases U.S. net exports. d. A decrease in U.S. exports shifts the aggregate demand curve rightward.
What will happen to the equilibrium price and equilibrium quantity of ice cream cones when consumers' incomes decrease?
A) If ice cream cones are a normal good, then the equilibrium price and quantity of ice cream cones will decrease. B) If ice cream cones are a normal good, then the equilibrium price and equilibrium quantity of ice cream cones will increase. C) If ice cream cones are an inferior good, then the equilibrium price for an ice cream cone will increase and the equilibrium quantity of ice cream cones will decrease. D) If ice cream cones are an inferior good, then the equilibrium price and quantity of ice cream cones will decrease.