A monopsony pays a wage rate that is
A) greater than value of marginal product.
B) equal to the marginal cost of labor.
C) less than value of marginal product.
D) unacceptable to the workers hired.
C
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Financial innovations may be expected to cause a decline in ________
A) financial frictions B) the credit spread C) the real interest rate on investments D) all of the above E) none of the above
Where Y is GDP, C is consumption, I is investment, G is government spending, and there is no international trade, national saving equals:
A. Y + C + G. B. C + I + G. C. Y - C - G. D. Y - C - I.
If purchases of eduction and medical care were counted as investment rather than consumption, GDP would
A) not change, because there is no change in total expenditures B) increase, because investment is included in GDP but consumption is not C) increase, because consumption is included in GDP, but investment is not D) decrease, because investment is weighed more heavily than consumption in GDP E) decrease, because consumption is weighed more heavily in calculating GDP
In the above figure, the monopolist's profit-maximizing output level is
A. A. B. B. C. C. D. D.