Which of the following correctly describes the trend in U.S. union membership?
A) Union membership has been decreasing steadily since the 1930s.
B) Union membership decreased from 1930 - 1960, but has been increasing steadily since.
C) Union membership peaked in the 1960s and has been decreasing steadily since.
D) Union membership declined until the 1980s, but has been increasing steadily since.
C
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Assume the price of Levi jeans increases. As a result, you decrease the quantity of Levi jeans purchased each month and purchase more Lee jeans. This is an example of the:
a. consumption effect. b. utility effect. c. income effect. d. substitution effect.
The goal of contractionary monetary policy is to:
A. reduce interest rates to stimulate the economy. B. increase interest rates to stimulate the economy. C. reduce interest rates to slow down the economy. D. increase interest rates to slow down the economy.