When did major currencies begin floating against each other, ending the Bretton Woods system?
What will be an ideal response?
March 1973
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The Required Reserve Ratio
Which of the following is not true about a monopsonist in a unionized labor market? a. It can set the wage rate and hire any desired number of workers at that rate. b. It is the only buyer of labor in a market. c. It tries to extract returns to monopsony power. d. It determines the optimal employment-wage rate combination by equating the marginal revenue product of labor to the marginal cost
of labor. e. It must bargain in good faith with the union.
(Table: Consumer Price Index) Refer to the CPI values in the table for the years 2005 to 2010. In which year(s) did the country experience disinflation?
What will be an ideal response?
Under monopolistic competition:
A. firms can sell all the output they wish without affecting the price. B. a single seller serves the market. C. firms face a downward-sloping demand curve. D. firms have no monopoly power.