Union membership peaked in the
A. mid-1930s.
B. late-1950s.
C. late-1970s.
D. early 1980s.
C. late-1970s.
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In the figure above, an increase in the quantity of oil supplied but NOT an increase in the supply of oil is shown by a movement from
A) point a to point e. B) point a to point b. C) point a to point c. D) point a to point d.
Compared to ideal economic efficiency, when the production of a good generates external costs, competitive markets will result in an output that is too:
a. large and a price that is too high. b. large and a price that is too low. c. small and a price that is too high. d. small and a price that is too low.
For all practical purposes, the supply of land is:
A. almost perfectly inelastic. B. negatively sloped. C. relatively elastic. D. perfectly elastic.
A country will have a balance-of- payments surplus when its exchange rate:
A. is undervalued. B. is flexible. C. equals the market equilibrium value. D. is overvalued.