Answer the following statements true (T) or false (F)
1. Although the number of jobs requiring computer knowledge has increased, these jobs are found primarily in low-wage industries.
2. Union membership in the United States has fallen to less than 15 percent of the workforce.
3. Household wealth is defined as income minus liabilities.
4. Because their earnings are highest, married couples between the ages of 35–54 hold the largest share of wealth in the United States.
5. Non family households earn less than 50 percent of the income earned by family households.
1. FALSE
2. TRUE
3. FALSE
4. FALSE
5. TRUE
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Refer to Table 11.1. If the marginal propensity to import increases to 0.5 (mpi = 0.5), what is the new equilibrium level of output?
A) 568.00 B) 760.00 C) 946.67 D) 1,266.67
A severe freeze has once again damaged the Florida orange crop. The impact on the market for oranges will be a leftward shift in
a. demand as consumers try to economize because of the shortage. b. both the supply and demand curves. c. the supply curve. d. the supply curve and a rightward shift in the demand curve, which will result in a higher price.