In which of the following periods was the yield curve inverted?
A) February 2004
B) February 2007
C) February 2010
D) The yield curve was not inverted during any of these periods.
B
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Which of the following most accurately indicates changes in the size of the union sector in the United States?
a. As a share of the labor force, union membership grew substantially during 1935 through 1955 but has declined substantially since the mid-1950s. b. As a share of the labor force, union membership declined substantially during 1935 through 1955 but has grown substantially since the mid-1950s. c. As a share of the labor force, union membership has steadily grown from less than 10 percent in 1935 to more than 40 percent today. d. Union membership has been approximately 20 percent of the labor force during the last five decades.
Chad is willing to pay $5.00 to get his first cup of morning latté. He buys a cup from a vendor selling latté for $3.75 per cup. Chad's consumer surplus is
a. $8.75. b. $5.00. c. $3.75. d. $1.25.
Which of the following is a correct characterization of socialism?
A. Tradition answers the basic economic questions. B. Markets are used exclusively to answer the basic economic questions. C. Central planning is seldom used to answer the basic economic questions. D. Government ownership of many resources and centralized decision-making answers the basic economic questions.
Specialization can occur because
A) governments pass laws that require it. B) varying skills differentiate workers. C) absolute advantage creates specialization among laborers. D) managers and laborers share job tasks.