For a monopsonist, the marginal factor cost curve will be above the supply of labor curve. The marginal factor cost curve is above the supply curve because
A) the monopsonist will take advantage of labor and offer them lower wages.
B) in order for the monopsonist to sell an additional unit of the good, the price of the good must be lowered.
C) in order for the monopsonist to hire more labor the monopsonist must also purchase more capital.
D) the monopsonist will have to pay all workers a higher wage rate than the current wage rate if it wants to hire more workers.
D
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The figure above shows the demand for fruit snacks. Which movement reflects an increase in income if fruit snacks are a normal good?
A) from point a to point e B) from point a to point b C) from point a to point c D) from point a to point d
According to the Monetarists a decrease in investment spending initially __________ unemployment so that the price level __________. The resulting __________ in the real money supply __________ spending
A) increases; rises; increase; decreases B) increases; falls; increase; increases C) increases; falls; increase; decreases D) decreases; rises; increase; increases
Reducing inflation is a more important objective than economic growth" is an example of
a) Normative economics b) Positive economics c) Objective economics d) Reality economics
What is the difference between an “all or nothing” decision and one that involves marginal thinking?
a. how much of something to do versus how complicated it is b. whether to do something versus how much of it to do c. how important the matter is versus how complicated it is d. whether to do something versus how important it is