In a monopoly labor market, the optimal union wage can be read off the marginal revenue product curve.
Answer the following statement true (T) or false (F)
True
The intersection of the marginal wage and labor supply curves determines the union's desired employment.
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In the classical model, the direction of trade is determined by
A) comparative advantage. B) absolute advantage. C) physical advantage. D) which way the wind blows.
The Cold War, or "war on communism,"
a. was the most expensive war of the twentieth century. b. is believed to have caused an increase in defense spending that came at the expense of private consumption rather than private investment. c. is believed to have caused an increase in defense spending that came at the expense of private investment rather than private consumption. d. Both a and b are correct. e. Both a and c are correct.
The dominant factor affecting medical care delivery and finance in the 1960s was:
a. the passage of ERISA. b. the explosive growth of managed care. c. the creation of Medicare and Medicaid. d. the Hill-Burton Act. e. prospective payment for hospitals.
A bank's required reserves are the fraction of deposits they are required by law to hold as reserves.
Answer the following statement true (T) or false (F)