In monopsony:
A. each firm employs a small portion of the total supply of labor.
B. the workforce is highly mobile.
C. the wage rate paid by the employer varies directly with the number of workers employed.
D. the employer is a "wage taker."
Answer: C
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If a foreign company operating in a country changes work rules resulting in a more flexible allocation of resources in the various sectors of the domestic economy,________
A) the productivity of domestic workers is likely to decrease B) the productivity of domestic workers is likely to increase C) the gross domestic product of the economy is likely to decrease D) the Human Development Index of the country is likely to decrease
When a new depositor opens a checking account at the First National Bank, the bank's assets ________ and its liabilities ________
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
Why is there a significant difference in the pay of physicians and construction workers?
What will be an ideal response?
Suppose the price of pizza falls to $1 per slice. Assuming that Tom's preferences continue to be those shown in the above table, and assuming that MU/P = 3 is still the point at which his consumer optimum is reached, how many slices will Tom now buy?
A. 1 slice B. 2 slices C. 3 slices D. 4 slices