A monopsonist whose workers have unionized hires the same number of workers as if they had not unionized
Indicate whether the statement is true or false
T
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An increase in total factor productivity shifts the production function
A) upward and increases the marginal product of labor. B) upward and decreases the marginal product of labor. C) downward and increases the marginal product of labor. D) downward and decreases the marginal product of labor.
The proponents of fixed exchange rates argue that flexible exchange rates
A) hamper international trade because of uncertainty over what the exchange rate will be. B) force a nation to use its domestic macroeconomic policies to maintain an exchange rate. C) lead to trade protectionism. D) a and b E) a, b, and c
Susan is trying to decide whether to quit her $20,000 per year job so she can return to college next year as a full time student. If she goes to college next year, her books and supplies will cost $500, tuition will cost $3,000, and her other expenses (transportation, housing, and food) will increase by $2,000. What is Susan's opportunity cost of attending college next year?
A) $5,500 B) $3,000 C) $25,500 D) $3,500
An individual demand curve for a good is ____ her marginal utility curve for the good.
A. based on B. the mirror image around the vertical axis of C. twice as steep as D. half as steep as