To calculate the return to monopsony power, you need to know
a. only c and e
b. c, d, and e
c. MRP
d. wage
e. number of workers
B
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A decrease in consumer wealth will
A) not change autonomous consumption and rotate the consumption function upward. B) decrease autonomous consumption and shift the consumption function downward. C) not change autonomous consumption and rotate the consumption function downward. D) increase autonomous consumption and shift the consumption function upward.
If you anticipate that the inflation rate is going to rise from three percent to 10 percent next year, you should
A) save your funds at a fixed rate of interest. B) borrow funds at a fixed rate of interest. C) keep your funds in your sock drawer. D) wait to buy a house until next year.
Figure 4-21
Which price in Figure 4-21 is equilibrium?
a.
P1
b.
P2
c.
P3
A budget deficit is defined as:
A. a shortfall of expenditures compared to revenue. B. accumulated deficits minus accumulated surpluses. C. a shortfall of revenues compared to expenditures. D. accumulated surpluses minus accumulated deficits.