Where monopsony exists, ____ workers will be hired at ____ wages than if perfect competition prevailed in a labor market
a. fewer; lower
b. fewer; higher
c. more; lower
d. more: higher
a
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As a result of an initial increase in investment of $200 billion, real GDP increased by $800 billion. Given this information, the expenditure multiplier equals
A) $800 billion. B) 2. C) 1/4. D) 4. E) 6.
What measures would likely lower infant mortality rates in the United States?
a. Prenatal care programs in low-income neighborhoods. b. Reduced drug use among expectant mothers. c. Better nutrition. d. Delaying childbearing beyond the teen-age years. e. All of the above.
The sum of the explicit and implicit costs incurred in the production process is called:
a. fixed cost. b. sunk cost. c. marginal cost. d. total cost.
When budget deficits during recessions are covered by budget surpluses during expansions, then it is termed as annually balanced budget
Indicate whether the statement is true or false