Answer the following statement(s) true (T) or false (F)
1. Good fringe benefits will cause a rightward shift of a firm’s labor supply curve.
2. Monopsony exists when demand for labor and the quantity of labor supplied are at equilibrium.
3. Monopsony is considered good for workers because it evens out the difference
between union and nonunion wages.
4. Membership in labor unions is higher in the private sector than in the public sector.
5. The percentage of workers who are union members has decreased dramatically
since the 1970s.
1. TRUE
2. FALSE
3. FALSE
4. FALSE
5. TRUE
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Refer to the scenario above. Elly should use ________ to make her decision
A) mixed strategies B) backward induction C) forward induction D) her dominated strategy
In the above figure, of the quantities listed below, for which is the total deadweight loss the largest?
A) 0 units B) 10 units C) 20 units D) 30 units
With respect to Figure 7-3, the horizontal distance by which the IS curve will shift with a change in taxes is equal to
a. ?T (? b/1 – b). b. ?T(1/1 – b). c. ?T(1 – b/1 – b). d. ?T(1 + b/1 + b).
Open market operations tries to target
A) the Federal government budget deficit. B) product prices. C) stock prices. D) the federal funds rate.