Exhibit 11-13 A monopsonist's supply and marginal revenue product data
Workers
Wage Rate
MRP
1
$ 8
$50
2
9
25
3
10
20
4
11
17
5
12
16
6
13
13
In Exhibit 11-13, how many workers will the monopsonist hire?
A. 4.
B. 5.
C. 3.
D. 6.
Answer: B
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Which of the following is NOT included in the money supply when the transactions approach is used?
A) currency B) traveler's checks C) money market deposit accounts D) transaction deposits
A decrease in the real money supply can result from:
A) increase in the nominal money supply or an increase in the price level. B) increase in the nominal money supply or a decrease in the price level. C) decrease in the nominal money supply or an increase in the price level. D) decrease in the nominal money supply or a decrease in the price level.
To the extent that the value of money is less predictable, it becomes
A) more acceptable as a store of value.
B) less acceptable as a medium of exchange.
C) more acceptable as a standard of deferred payment.
D) more acceptable as a unit of account.
The relative costs of two goods produced by two countries can be determined by comparing the ________ of their ________.
A) slopes; supply curves B) prices; domestic production C) slopes; production possibilities curves D) their absolute efficiencies; production