The Congress of Industrial Organizations (CIO) was formed in 1938 by
A) John L. Lewis.
B) Samuel Gompers.
C) Walter Reuther.
D) Ralph Nader.
Answer: A
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If the theory behind an economic model fits the data poorly, you would probably want to
A) use the theory to predict what would happen if the economic setting or economic policies change. B) start from scratch with a new model. C) enrich the model with additional assumptions. D) restate the research question.
For which of the following is demand most likely to be price inelastic?
a. lamb b. meat c. veal d. pork e. beef
For any given consumption function, autonomous consumption is equal to the level of consumption associated with:
a. negative disposable income. b. positive disposable income. c. zero disposable income. d. unstable disposable income.
Other things the same, in the open-economy macroeconomic model, if the exchange rate rises,
a. the demand for dollars shifts left. b. the demand for dollars shifts right. c. the quantity of dollars demanded falls. d. the quantity of dollars demanded rises.