Which of the following best describes the effects of unions in the United States today?
A) The average union worker works more hours but earns a lower annual income than the average nonunion worker.
B) The average union worker works fewer hours but earns a higher annual income than the average nonunion worker.
C) The average union worker works more hours and earns a higher annual income than the average nonunion worker.
D) The average union worker works fewer hours and earns a lower annual income than the average nonunion worker.
Answer: D
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Net capital outflow represents the quantity of dollars supplied in the foreign-currency exchange market
a. True b. False Indicate whether the statement is true or false
Which of the following is a characteristic of a monopoly market?
A. one single seller B. easy entry C. The firm is a price taker. D. many suppliers of similar products
In the long run, a monopolistically competitive firm
A. earns zero economic profits. B. earns negative economic profits. C. can have positive, zero, or negative profits. D. earns positive economic profits.
Refer to Figure 24-4. Given the economy is at point A in year 1, what will happen to the unemployment rate in year 2?
A) It will rise. B) It will remain constant. C) It will fall. D) not enough information to answer the question