The best example of a craft union would be the:
A. United Auto Workers
B. United Steelworkers
C. Teamsters
D. International Brotherhood of Electrical Workers
D. International Brotherhood of Electrical Workers
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Inflation caused by continually decreasing short-run aggregate supply is
A) demand-pull inflation. B) demand-push inflation. C) cost-push inflation. D) cost-pull inflation.
For spring break, Melanie will either stay home or go to Daytona Beach. At home, Melanie pays $10 per day for food and earns $90 a day at her job. At Daytona Beach, Melanie will stay with friends and so has no lodging cost
She will pay $20 per day for food. In terms of dollars, Melanie's opportunity cost per day of going to Daytona Beach is how much?
If the supply curve for orange juice is estimated to be Q = 40 + 2p, then, at a price of $2, the price elasticity of supply is
A) .01. B) .09. C) 1. D) 11.
Which of the following statements is NOT true?
A) Unemployment in the US economy represents an excess demand for labor. B) A surplus may be reduced by shifting the demand curve rightward. C) A surplus may be reduced by shifting both the supply and demand curves. D) A shortage may be reduced by shifting the supply rightward.