Society as a whole faces opportunity costs because
a. there is not enough money to go around
b. politicians are greedy
c. workers shirk their responsibilities and management is unable to compensate for this
d. resources are abundant
e. resources are scarce
E
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A monopsonistic employer will pay a wage rate
A) less than the labor's MRP. B) greater than the labor's MRP. C) equal to the labor's MRP. D) equal to MFC.
Ben N. Jerry prefers to keep his $10,000 retirement savings buried in the backyard. After an increase in the price level, Ben reduces the amount of goods and services he wants to purchase. Ben's rationalization, that now his retirement savings won't buy as much, is consistent with which explanation of the aggregate demand curve's negative slope?
a. the interest rate effect b. the open economy effect c. the inflation effect d. the wealth effect
Which of the following is not generally considered to be a major cure for insolvency?
a. Equity infusions. b. Expansionary monetary policies. c. Financial restructuring. d. New management strategies. e. Asset liquidations.
Explain how unemployment insurance acts as an automatic stabilizer