A monopsonist will pay a wage that:
A. is greater than that in a perfectly competitive labor market.
B. is less than that in a perfectly competitive labor market.
C. may be greater than, less than, or equal to that in a perfectly competitive labor market, depending on labor supply.
D. is the same as that in a perfectly competitive labor market.
Answer: B
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According to the BEA, in the second quarter of 2012 federal government spending on goods and services changed by -0.1 percent. This decrease could have been caused by a decrease in spending on
A) national defense. B) Social Security. C) interest payments on the national debt. D) unemployment benefits.
A "flight to quality" in global asset markets in September and October 2008 caused an increase in the demand for ________
A) emerging-market equities B) luxury automobiles C) dollar assets D) blue-chip stocks
A movement along in the consumption function is caused by a change in:
a. real disposable income. b. can be caused by a change in the price level. c. the marginal propensity to consume (MPC). d. none of these.
If nominal gross domestic product is $3,600 billion and the money supply is $900 billion, the velocity of money is _____
a. 25 b. 13.5 c. 4 d. 0.33