The unionization rate of public sector workers is about:
A. 10.3%.
B. 17.1%.
C. 24.4%.
D. 34.4%.
Answer: D
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A positive statement is prescriptive—it prescribes what should be done
a. True b. False Indicate whether the statement is true or false
When economists are trying to help improve the world, they are
a. in the realm of positive economics rather than normative economics. b. in the realm of macroeconomics rather than microeconomics. c. scientists. d. policy advisers.
Which of the following is not an example of economic regulation?
a. Preventing a firm from starting up in a town. b. Maintaining a minimum price for a good. c. Restricting the use of hazardous materials without proper protection. d. Requiring a minimum amount of goods produced in a given year.
An increase in the supply of corn will lower the total revenue from corn if
A) the demand curve for corn is inelastic between the current and new price of corn. B) the demand curve for corn is elastic between the current and new price of corn. C) there are many substitutes for corn. D) there are only a few substitutes for corn. E) none of the above