One sign of the cartel power of the NBA is the use of salary caps.
a. true
b. false
Answer: a. true
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A monopolist union that desired to maximize its total wage bill (w ? l) would offer that quantity of labor for which:
a. labor's marginal productivity is zero. b. labor's wage falls to zero. c. the quantity of labor hired is as great as possible given the firm's demand curve. d. the marginal revenue from providing one more worker to the market is zero.
If slope = 2 for a line on a graph with x on the horizontal axis and y on the vertical axis, then if
a. x decreases by 4, y decreases by 8 b. x = -4, then y = -2 c. y decreases by 4, x decreases by 8 d. x = -4, y = -8 e. x increases by 4, y decreases by 8
Cutting the interest rate paid on reserves should make banks
A. less willing to meet the margin requirement. B. more willing to use their funds for lending. C. more willing to meet the margin requirement. D. less willing to use their funds for lending.
You rent a DVD of The Dark Knight Rises. The rental is for seven days and you watch the movie on the first day. You tell a friend about the film and your friend asks to come over and watch the movie with you before it is due back. What is your opportunity cost if you decide to watch the movie a second time instead of going to a football game?
A. the entire cost of the movie rental, since you have already watched the movie B. one half the rental cost, because you have already watched the movie one time C. zero, because you already paid for the rental D. the football game you forego by watching the movie again