In many European countries it is much easier than in the United States for unemployed workers to receive generous wage replacement income from their governments
Indicate whether the statement is true or false
TRUE
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A profit maximizing monopolist will hire labor up to the point where
A) marginal revenue product equals the price of the product. B) marginal revenue product is greater than the wage rate. C) marginal revenue product equals than the wage rate. D) marginal revenue product is less than the wage rate.
Which of these is the most ideal measure of aggregate output?
a. Disposable income b. Nominal GDP c. Personal income d. The real GDP e. Gross national product
The concentration ratio of a monopoly industry is 100 percent
Indicate whether the statement is true or false
Many economists believe that restrictions against ticket scalping result in each of the following except
a. a smaller audience for cultural and sporting events. b. shorter lines at cultural and sporting events. c. less tax revenue for the state. d. an increase in ticket prices.