For a monopsonist, the marginal labor cost is always
a. equal to the wage rate
b. less than the wage rate
c. greater than the wage rate
d. the same as the labor supply
e. the same as the labor demand
C
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A teenaged babysitter is similar to a firm in a perfectly competitive industry in that, for both
A) average costs of production do not change when their industry expands. B) fixed costs are lower than variable costs. C) there are many other suppliers of similar goods or services. D) the implicit costs of production exceed the explicit costs of production.
In 2010, the net national debt was about $9 trillion or approximately $29,000 per person
a. True b. False Indicate whether the statement is true or false
An example of a foreign direct investment would be an Indian citizen purchasing U.S. Treasury notes
a. True b. False Indicate whether the statement is true or false
Policymakers generally are:
A. more concerned about structural deficits than cyclical deficits. B. more concerned about cyclical deficits than structural deficits. C. not concerned about structural or cyclical deficits. D. equally concerned about structural and cyclical deficits.