At the profit-maximizing level of employment, the monopsonist
A. pays a wage equal to MRP.
B. pays a wage less than MRP.
C. pays a wage greater than MRP.
D. pays a wage equal to MFC.
Answer: B
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If the United States is a "net borrower" from abroad,
A) national saving is less than domestic investment. B) net foreign investment must be positive. C) net capital flows must be negative. D) the United States must be exporting more than it is importing.
Keynes was concerned about an implication of his consumption theory: that as an economy becomes more prosperous, its saving rate becomes too ________ to sustain that prosperity. Such a long-term trend in the U.S
saving rate is ________ in the time-series data. A) large, found B) large, not found C) small, found D) small, not found
The increase in a firm's total revenues resulting from hiring an additional unit of labor is known as the marginal:
a. product. b. revenue product. c. cost. d. none of these.
The entry of new firms into an industry lowers the economic profit of the existing firms
a. True b. False Indicate whether the statement is true or false