Answer the next question(s) on the basis of the following data. All figures are in billions of dollars. Personal taxes$ 40 Social Security contributions15 Indirect business taxes20 Corporate income taxes40 Transfer payments22 U. S. exports24 Undistributed corporate profits35 Government purchases90 Gross private domestic investment75 U. S. imports22 Personal consumption expenditures250 Consumption of fixed capital25 Net foreign factor income earned in the U. S.10 Refer to the above data. GDP using the Expenditure approach is: Group of answer choices

Overspeculation and a decrease in consumer confidence are both leading factors of: ?

Corporations with suppliers, vendors, and customers all over the globe are referred to as : a) global corporations b) international corporations c) multinational corporations d) multicultural corporations

Suppose a firm faces a fixed price of output, 푝푝= 1200. the firm hires workers from a union at a daily wage, 푤푤, to produce output according to the production function 푞푞= 2퐸퐸12. there are 225 workers in the union. any union worker who does not work for this firm is guaranteed to find nonunion employment at a wage of $96 per day. a.what is the firm’s labor demand function? b.if the firm is allowed to choose 푤푤, but then the union decides how many workers to provide (up to 225) at that wage, what wage will the firm set? how many workers will the union provide? what is the firm’s output and profit? what is the total income of the 225 union workers? c.now suppose that the union sets the wage, but the firm decides how many workers to hire at that wage (up to 225). what wage will the union set to maximize the total income of all 225 workers? how many workers will the firm hire? what is the firm’s output and profit? what is the total income of the 225 union workers? [hint: to maximize total income of union, take the first order condition with respect to w and set equal to 0.]