Hughes and Cain (2011) argue that the U.S. regards highly hardworking people and possesses a strong disdain for idle people, especially the rich. These views fuel animosity toward labor unions because unions
(a) threaten the private rights of business owners to utilize profits in those fashions they deem desirable.
(b) force business owners to divert profits to conduct research and develop products.
(c) prevent the emergence of a leisure class in the U.S.
(d) all of the above.
(a)
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Which of the following is NOT a consequence of the introduction of the Medicare program?
A) an increased quantity of medical services demanded B) an increased ability for the elderly to obtain medical services C) an increased ability for the poor to obtain medical services D) a reduced demand for medical services
To calculate the time required for real GDP to double, we _____
a. divide the annual growth rate by 72 b. divide 72 by nominal GDP c. divide real output by 72 d. divide 72 by the annual growth rate e. multiply real GDP by 72
When demand is relatively inelastic, a 5% increase in price will:
a. increase total revenue by more than 5%. b. increase total revenue by less than 5%. c. decrease total revenue by more than 5%. d. decrease total revenue by more than 5%.
Monetary policy has an:
A. unambiguous effect on exchange rates because the income, price, and interest rate effects offset one another. B. ambiguous effect on exchange rates because the income, price, and interest rate effects offset one another. C. unambiguous effect on exchange rates because the income, price, and interest rate effects reinforce one another. D. ambiguous effect on exchange rates because the income, price, and interest rate effects reinforce one another.