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.
Answer: C
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A) 3% B) 30% C) 10% D) 0.1%
In the short run, we assume that the number of firms in a perfectly competitive market:
A. varies if perfect information is present. B. varies more than the long-run equilibrium. C. is fixed. D. is equal to the number of firms in the long-run.
A decrease in savings deposits would ____ M1 and ____ M2. a. increase; increase
b. not change; increase. c. decrease; decrease. d. not change; decrease.
When the Fed wants US interest rates to decrease, it will usually increase the discount rate
a. true b. false