A monopsonist must raise the wage rate if it desires to hire additional workers.
Answer the following statement true (T) or false (F)
True
The distinguishing characteristic of labor market monopsonies is that their hiring decisions influence the market wage rate. A monopsonist confronts the market labor supply curve. As a result, any increase in the quantity of labor demanded will force the monopsonist to climb up the labor supply curve in search of additional workers.
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The 45-degree income line is the same as the aggregate expenditure curve
Indicate whether the statement is true or false
Which of the following students would be most likely to drop out of college before completing their degree?
A) a junior secondary education major who has just read about the substantial improvement in the job opportunities available for teachers with a college degree B) a senior physics major with a solid B average C) an outstanding baseball player in his junior year that just received a $500,000 offer from a professional team D) a junior economics major who wants to attend law school
Symbols used by the leaders in an organization are unlikely to be effective in motivating employees to take particular actions unless reinforced by:
A. the government. B. the shareholders. C. the reward system. D. the board of directors.
The wealth of nations is determined by the resources available to a nation and was discussed in 1776 by the famous economist, __________________.
Fill in the blank(s) with the appropriate word(s).