The difference between the marginal expenditure and the wage is greater when the supply curve of labor is
A) less elastic at the monopsony optimum.
B) more elastic at the monopsony optimum.
C) more elastic than the demand curve.
D) The difference does not depend on any elasticity.
B
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In an economy, 43 million people are employed, 3 million are unemployed, and 4 million are not in the labor force. What is the employment-to-population ratio?
A) 86 percent B) 92 percent C) 93 percent D) 6.5 percent
The above table shows some cost data for Tracey's Tents. What is the average total cost when output is 3?
A) $120 B) $30 C) $40 D) $50
Over the past year price inflation has been 10%, but the price of a used Ford Escort has fallen from $6,000 to $5,000. The real price of a Ford Escort has fallen by:
A) 12%. B) 17% C) 20%. D) 24% E) 32%.
If Bratty Brenda decides not to hit Tattling Tina, what would Tattling Tina's best response be?
a. Tell b. Not tell c. Run d. Hide