Which of the following best describes the antebellum U.S.?
a. Immigration peaked in the 1820s and slowly decreased through the Civil War.
b. Union membership grew consistently through the period and comprised a substantial portion of the working population by the Civil War.
c. English wages grew relative to those of the U.S.
d. The percentage of people living in urban areas in U.S. approximately tripled.
e. The North had the most unequal income distribution because of its large increase in industry.
d. The percentage of people living in urban areas in U.S. approximately tripled.
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In an unfunded pension system where current contributions are paid out to current beneficiaries, the total amount of funds available to invest _____ and the interest rate _____
a. falls; falls b. rises; rises c. falls; rises d. rises; falls
The view that union wage demands may be a source of inflation would be best associated with cost-push inflation
a. True b. False Indicate whether the statement is true or false
The three largest categories of spending by the Federal government in order from first to third would be
a. income security, net interest, and national defense b. national defense, net interest, and income security c. income security, health, and national defense d. health, income security, and national defense
If the price of labor is $5 and the price of capital is $10, what is the marginal rate of technical substitution at the optimal input choice?
A. 0.5 B. decreasing C. 2 D. increasing E. none of the above