If a firm is the sole employer of a factor of production, it is known as
A) a monopsony. B) a monopoly.
C) an economically discriminating firm. D) a competitor.
A
You might also like to view...
In order to close a recessionary gap, the Fed would
The ADL(p,q) model is represented by the following equation
A) Yt = ?0 + ?pYt-p + ?qXt-q + ut. B) Yt = ?0 + ?1Yt-1 + ?2Yt-2 + ... + ?pYt-p + ?qut-q. C) Yt = ?0 + ?1Yt-1 + ?2Yt-2 + ... + ?pYt-p + ?0 + ?1Xt-1 + ut-q. D) Yt = ?0 + ?1Yt-1 + ?2Yt-2 + ... + ?pYt-p + ?1Xt-1 + ?2Xt-2 + ... + ?qXt-q + ut.
When the price level rises as a result of a decrease in aggregate supply, it is called cost-push inflation
a. True b. False Indicate whether the statement is true or false
Which of the following is an example of an application of the ceteris paribus assumption?
A. an analysis of how price changes affect how much of a good people will purchase when all other factors are held constant B. an analysis of how worker productivity increases when a firm invests in new machines and training programs C. an analysis of how people purchase more goods when prices decline and income increases D. After reading an article on the dangers of high-fat diets, an individual buys less red meat when prices increase.