The price of a new textbook increased by 35 percent and the price of a used textbook increased by 30 percent. What happened to the relative price of the new textbook?
A) It increased by 5 percent.
B) It increased, but we can't tell by how much without more information.
C) It decreased by 5 percent.
D) It decreased, but we can't tell by how much without more information.
Answer: B
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Economic variables that generally move in tandem with the overall phases of the business cycle are called:
A) leading indicators. B) coincident indicators. C) lagging indicators. D) none of the above.
Which of the following is NOT one of the reasons for declining union membership in the United States?
A) The economy has shifted away from manufacturing. B) The AFL-CIO merger and creation of the Change to Win Federation reduced competition among unions. C) Some industries have been deregulated. D) Labor force participation by women has increased.
Indifference curves show all combinations of commodities that are equally desirable to the consumer
a. True b. False Indicate whether the statement is true or false
Taxes on commodities or on purchases are known as:
A. corporate income taxes. B. sales and excise taxes. C. personal income taxes. D. payroll taxes.