Which of the following might contribute to monopsony?
a. Several large employers built plants near the airport.
b. The market for smart home products was intensifying.
c. Operators were reassigned during the computer upgrade.
d. Workers were isolated by bad weather most of the year.
d. Workers were isolated by bad weather most of the year.
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In the figure above, firms
A) pay taxes directly to governments. B) sell goods and services to governments in goods markets. C) receive transfers from governments through factor markets. D) own factors of production. E) do all of the above.
The free-rider problem may arise in case of ________
A) public goods B) private goods C) club goods D) inferior goods
Based on your answer above(question 23), which of the following statements best characterizes demand for organic tomatoes.
A. Demand for organic tomatoes is inelastic. B. Demand for organic tomatoes is elastic. C. Organic tomatoes are a normal good. D. Organic tomatoes are an inferior good.
An increase in government purchases shifts the ________ curve to the ________.
A) aggregate demand; left B) aggregate supply; left C) aggregate demand; right D) aggregate supply; right