Which piece of legislation allowed states to pass right-to-work laws?
A) Wagner Act
B) Landrum-Griffin Act
C) Taft-Hartley Act
D) National Industrial Recovery Act
C
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What happened to real GDP and the inflation rate during the recession of 2007-2009?
What will be an ideal response?
In general, microeconomic theory assumes that firms attempt to maximize the difference between
a. total revenue and accounting costs. b. price and marginal cost. c. total revenues and economic costs. d. economic costs and average cost.
Where can equilibrium GDP be found on a graph?
a. Where the consumption function crosses the 45-degree line b. Where the 45-degree line crosses the investment function c. Where the aggregate expenditure function crosses the 45-degree line d. Where total output is equal to the unplanned inventory change e. Where the next exports function crosses the 45-degree line
Suppose that recent studies conclude that high-fiber diets do not reduce the risk of developing colon cancer as was previously thought. The likely result will be that the:
A. demand for high-fiber foods will decrease. B. quantity demanded of high-fiber foods will fall. C. price of high-fiber foods will rise. D. supply of high-fiber foods will increase.