In Figure 45.5, where one union is bargaining against one employer, the lowest possible negotiated wage paid to workers will be 
Figure 45.5
A. W1.
B. W*.
C. W2.
D. an undetermined point between W1 and W2.
Answer: C
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Based on the table above, between 2013 and 2014, the inflation rate in this country was
A) 2.5 percent. B) -1.5 percent. C) -2.5 percent. D) 98.5 percent. E) 105.1 percent.
The demand for necessities generally is ________ the demand for luxury goods
A) as elastic as B) more elastic than C) less elastic than D) flatter than E) not comparable to
Assume that Dusty has $30 in income, the price of a loaf of bread is $1.50, and the price of a jar of peanut butter is $3. At the original income of $30, if the price of a loaf of bread decreased to $1 and the price of a jar of peanut butter increased to $5, then Dusty could buy a maximum of ________ loaves of bread or a maximum of ________ jars of peanut butter.
A. 30; 6 B. 20; 5 C. 5; 20 D. 6; 30
Which of the following does not correctly characterize modern economic growth?
A. It spread slowly across the globe, with some societies not having experienced it yet B. It has occurred only in the last 200 or so years C. It drastically alters the culture and politics of society D. It has not affected the average lifespan of human beings