For the monopsonist, marginal expenditure is greater than the wage rate because the monopsonist
A) pays a wage higher than that paid in a competitive market.
B) chooses the perfectly competitive quantity of labor.
C) must increase the wage to all units of labor to attract more units of labor.
D) must take the wage as given by the market.
C
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Intertemporal choice theory is more consistent with ________
A) Keynesian theory than the permanent income hypothesis of Friedman B) the permanent income hypothesis than Keynesian theory C) Keynesian theory than the life-cycle hypothesis D) Keynesian theory than the Gini coefficient theory
"The economic wealth of this country is primarily the result of the profit made by some individuals at the expense of others." The person who made this statement
What will be an ideal response?
Extensive government restrictions on the use of capital are likely to
A) result in capital resources being devoted to their most efficient uses. B) enhance economic growth. C) enhance economic freedom. D) create dead capital.
Why do governments prefer to avoid excessive current account surpluses? Or, why are growing domestic claims to foreign wealth ever a problem?
What will be an ideal response?