When a negative externality exists in a market, the cost to producers
a. is greater than the cost to society.
b. will be the same as the cost to society.
c. will be less than the cost to society.
d. will differ from the cost to society, regardless of whether an externality is present.
c
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The main difference between a monopsonist and a competitive buyer of labor is that
A) the monopsonist can hire as many workers as it wants at the going wage while the competitive firm must raise wages to hire additional workers. B) the competitive firm can hire as many workers as it wants at the going wage while the monopsonist can hire more workers at lower wages. C) the competitor can hire as many workers as it wants at the going wage while the monopsonist must raise wages to hire additional workers. D) the monopsonist can force wages down and still hire as many workers as it wants while the competitive firm must increase the wage rate to hire additional workers.
River City has a working age population of 20 million. Of those, 11 million are employed and 1 million are unemployed. The unemployment rate is ________ and the participation rate is __________.
A. 5%; 60%. B. 5%; 55%. C. 8.3%; 55%. D. 8.3%; 60%.
A voter who "votes with their feet":
A. leaves a community if they disagree with the policies implemented. B. count the number of their toes. C. walk many miles to get to the polling station. D. judge a candidate based on the size of their shoes.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point C to Point B, ________ additional LCD TVs could be produced when the production of OLED TVs is reduced by 20.
A. exactly 30 B. exactly 60 C. fewer than 30 D. more than 30