Barter transactions involve a double coincidence of wants.
Answer the following statement true (T) or false (F)
True
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Compared to a competitive input market, a monopsonist will hire:
a. more and pay a higher input price. b. less but pay a higher input price. c. more but pay a lower input price. d. less and pay a lower input price.
_________ is the investment that individuals make in education, training, and health care that raise their productive capacity.
A. Capital market B. Human capital C. Human engineering D. Private good production
A linear, upward-sloping supply curve has
a. a constant slope and a changing price elasticity of supply. b. a changing slope and a constant price elasticity of supply. c. both a constant slope and a constant price elasticity of supply. d. both a changing slope and a changing price elasticity of supply.
If average labor productivity increases, then the same number of employed workers will always produce:
A. more output per person. B. less output per person. C. less total output. D. more total output.