In recent decades, the union-nonunion hourly wage differential has
A) increased substantially.
B) increased slightly.
C) stayed the same.
D) fallen significantly.
Answer: D
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The demand curve is constructed with a
A. positive slope, because as more is purchased of a good, the cost of producing it rises. B. positive slope, because as buyers have more money, the more of a particular good will be purchased. C. negative slope, because when people purchase more of a good, the cost to produce that good falls. D. negative slope, because with everything else equal, buyers will purchase more of a good when its price is lower. E. positive slope, because as the price rises, people want to sell more of the good.
Refer to the scenario above. What is the purchasing power parity-based exchange rate between the two currencies?
A) 0.4 units of Country 1's currency for $1 B) 2.5 units of Country 1's currency for $1 C) 1.2 units of Country 1's currency for $1 D) 1 unit of Country 1's currency for $2.50
Suppose China decides to sell a vast majority of their large holdings of U.S. Treasury bonds. If you are thinking of refinancing your house, how would China's action affect your decision to refinance?
A) You would want to wait to refinance as interest rates should rise. B) China's actions should not affect your decision to refinance in any way. C) You would want to refinance as soon as possible as interest rates should rise. D) You would want to wait to refinance as interest rates should fall.
An overvalued fixed exchange rate can be maintained only as long as:
A) the country's central bank reserves are available to support currency intervention in the foreign exchange market. B) the country's central bank can increase the domestic money supply. C) the country's government increases debt financing. D) none of the above.