Which of the following would not shift the demand for good A?
A. Drop in price of good B.
B. Drop in price of good A.
C. Change in the level of advertising of good A.
D. Consumer income.
Answer: B
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For a monopsonist, the marginal factor cost is always:
a. equal to the wage rate. b. less than the wage rate. c. greater than the wage rate d. the same as the labor supply. e. the same as the labor demand.
Even if employers are not prejudiced, employee or customer discrimination will tend to be reinforced by market forces and may lead to permanent wage differences between the favored and unfavored groups
a. True b. False
According to the signaling view, education
a. has no effect on lifetime earnings. b. alters work ethic. c. enhances productivity. d. is an indicator of natural ability.
________: the number of units of foreign currency that can be exchanged for one unit of domestic currency
Fill in the blank(s) with correct word