For a monopsonist the marginal cost of increasing its workforce will always be greater than the wage rate because
A) there is not good factor substitution in a monopsony.
B) the wage rate offered the newest employee must be paid to all workers.
C) the industry will be a closed shop.
D) a normal rate of return must be paid to the owner.
B
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Someone who is available for work but has not actively looked for work in the previous four weeks would be classified as
A) employed. B) not in the labor force. C) not in the working-age population. D) unemployed.
Write an essay on the importance of a sound banking system in developing countries
What will be an ideal response?
If consumption = $5,000; investment = $800, government purchases = $700, exports = $30, imports = $60, and transfer payments = $340, then _____
a. GDP = $7,400 b. GDP = $7,740 c. GDP = $3,140 d. GDP = $6,470 e. GDP = $6,840
The difficulty in analyzing oligopolistic behavior arises from the
a. degree of government regulation of the market structure. b. interdependent nature of oligopolistic decisions. c. large number of firms in the industry. d. market power of consumers.