A person's willingness to work depends on whether the labor market is competitive or monopsonistic
Indicate whether the statement is true or false
F
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Suppose the growth rate of GDP in the United States is 4.2 percent. If 2.9 percent and 1.3 percent of GDP growth are due, respectively, to capital and labor growth, the amount resulting from technological progress is
A) 0 percent. B) 1.3 percent. C) 2.9 percent. D) 4.2 percent.
Comparing single-price monopoly to perfect competition, monopoly
A) increases the amount of consumer surplus. B) has the same amount of consumer surplus. C) has no consumer surplus. D) decreases the amount of consumer surplus. E) decreases the amount of economic profit.
Would the housing industry be characterized as an increasing, decreasing or a constant-cost industry? Explain your position
What will be an ideal response?
The equilibrium price of a burger is $10, and the equilibrium quantity is 150 burgers. If the quantity of burgers sold increases to 200, the difference is a gain in net social welfare
a. True b. False Indicate whether the statement is true or false