In the above figure, the monopsony wage rate is ________ and the quantity of labor is ________
A) $7.00; 150 hours
B) $8.00; 200 hours
C) $6.00; 100 hours
D) $8.00; 100 hours
C
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Liquidity increases as we move from the M1 to the M2 definition of the money supply
Indicate whether the statement is true or false
Refer to Figure 24-1. Ceteris paribus, a decrease in the value of the domestic currency relative to foreign currencies would be represented by a movement from
A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.
The period between a business cycle peak and the subsequent trough is called
a. a recession. b. a complete cycle. c. an expansion. d. a change in economic trend.
The theory of public choice examines
A. The role of self-interest in public decisions. B. How to apply cost-benefit analysis. C. The optimal government intervention to correct market failures. D. How a policy of laissez faire works to allocate resources.