In perfect competition, a firm's ________ curve is horizontal.
A. total revenue
B. marginal revenue
C. marginal cost
D. total cost.
Answer: B
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If a single supplier of labor, such as a union, were supplying labor to a single monopsonistic employer, this is referred to as a(n)
A) bilateral monopoly. B) trilateral monopoly. C) total monopsony. D) collective monopoly.
As more women entered the labor force in the 1980s in the United States:
a. the number of unskilled workers increased. b. the average quality of the labor force improved. c. the quantity of output decreased. d. the supply of skilled labor exceeded its demand. e. labor productivity increased.
Critics of the Obama stimulus plan were
A. hard to find at the time. B. from both conservatives and liberals. C. entirely from conservatives. D. entirely from liberals.
A relationship that depends on the basic behavior of consumers and firms and remains unchanged over long periods is called a ________ relationship
A) cyclical B) structural C) frictional D) dynamic