A monopsonist will hire more workers than will be hired in a competitive labor market
a. True
b. False
Indicate whether the statement is true or false
False
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A "flight to quality" in global asset markets in September and October 2008 caused an increase in the demand for ________
A) emerging-market equities B) luxury automobiles C) dollar assets D) blue-chip stocks
Bill consumes two goods: iced tea and spaghetti. The price of iced tea is $2 per bottle, and the price of spaghetti is $8 per serving. His income is $1,000 per month. He spends all of his income each month. He purchases 200 bottles of iced tea. How many servings of spaghetti does he purchase?
a. 125 b. 75 c. 50 d. 10
Some government policies provide incentives for private decision makers to choose to solve the problem of externalities on their own. What term do we use to describe such policies?
The monopsonistic exploitation of labor refers to
A) the reduction in total output from monopoly in the product market. B) the union wage differential. C) workers being paid a wage less than their marginal revenue product. D) the reduction in employment resulting from union wage setting.