Under monopsony, marginal factor cost
A) is downward sloping.
B) is less than the wage rate, although it increases as more workers are hired.
C) equals the wage rate.
D) is greater than the going wage rate.
Answer: D
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Given whatever income they have, consumers make consumption choices to maximize the
a. total utility of the goods they consume b. marginal utility of the goods they consume c. average utility of each good they consume d. number of goods they buy e. prices of goods they buy
Siegnorage is equal to
A) the rate of inflation. B) one divided by the rate of inflation. C) real money balances. D) the percentage growth rate of nominal money. E) the percentage growth rate of nominal money times real money balances.
According to the quantity theory of money, the inflation rate equals
A) real output minus the money supply. B) the growth rate of the money supply minus the growth rate of real output. C) the growth rate of real output minus the growth rate of the money supply. D) the money supply minus real output.
With an upward-sloping AS curve, a decrease in transfer payments can lead to a decrease in inflation.
Answer the following statement true (T) or false (F)