A price discriminating monopsonist could increase its profits by
a. paying the minimum wages possible.
b. hiring as little capital as possible.
c. paying lower wages to workers with inelastic supply of labor curves than to workers with elastic curves.
d. paying lower wages to workers with elastic supply of labor curves than to workers with inelastic curves.
c
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Which criterion for suitability as a medium of exchange do Federal Reserve Notes meet?
A) They are of standardized quality. B) They are durable. C) They are acceptable to most traders. D) Federal Reserve Notes meet all of the criteria for suitability as a medium of exchange.
A bank panic occurs when
A) a bank is worried that its loans will not be repaid. B) an individual bank cannot meet its reserve requirements. C) a bank lacks sufficient funds with which to make loans. D) the situation in which many banks experience a bank run simultaneously.
When two variables move in the same direction, the curve relating them is
a. upward sloping, and we say the variables are positively related. b. upward sloping, and we say the variables are negatively related. c. downward sloping, and we say the variables are positively related. d. downward sloping, and we say the variables are negatively related.
Which statement is true?
A. Until 1971, the U.S. ran a trade deficit virtually every year of the 20th century. B. The U.S. ran trade surpluses for most of the 19th century. C. In the 1920s, the U.S. flooded the rest of the world with consumer goods such as Model T Fords, radios and waffle irons as our trade surpluses increased. D. Until after WWII most of U.S. exports were agricultural products, such as cotton and grain sent to Europe.