Wage and MFC differ for a monopsonist because:
a. the monopsonist is forced to pay a wage greater than the worker's MFC.
b. the monopsonist must accept the market wage rate.
c. workers are not as efficient when employed by a monopsonist.
d. any wage increase applies to all workers, not just to the next hired.
e. wage rate decreases force workers to work longer hours.
d
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Aggregate output is ________ related to autonomous consumer expenditure, and is ________ related to the level of taxes
A) negatively; negatively B) negatively; positively C) positively; negatively D) positively; positively
When prices rise
a. the rich benefit at the expense of the poor. b. the poor benefit at the expense of the rich. c. both the rich and poor lose real income. d. the effect in the rich and poor is uncertain.
Which of the following would not be included in GDP?
a. the real estate commission on the sale of a used home b. an attorney's fee for handling the sale of a used home c. the value of a used home, at its sale price d. fees paid to have the house cleaned
In which of the following cases does the aggregate-demand curve shift to the right?
a. The price level rises, causing the interest rate to fall. b. The price level falls, causing the interest rate to fall. c. The money supply increases, causing the interest rate to fall. d. The money supply decreases, causing the interest rate to fall.