The monopsonist will employ labor to the point at which the
A. marginal revenue product equals the wage rate.
B. demand equals the supply of labor.
C. marginal factor cost equals the marginal revenue product of labor.
D. marginal cost of output equals the marginal revenue.
Answer: C
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Which of the following is NOT true about the duties the Fed performs for the federal government?
A) The U.S. Treasury has a checking account at the Fed. B) The Federal Reserve aids in the purchase and sale of certain government securities. C) The U.S. Treasury controls the Fed. D) The Federal Reserve is the banker and fiscal agent of the federal government.
In the political marketplace, voters do all of the following EXCEPT
A) benefit from public goods and services. B) pay some taxes. C) vote. D) evaluate policy proposals of bureaucrats.
From 1860 to 1910, international net capital flow into the U.S
(a) was positive when the U.S. economy expanded. (b) was neutral and not influenced by the U.S. business cycle. (c) was negative when the U.S. economy grew. (d) was positively impacted by U.S. discussions about and actual restrictions on immigration.
A firm is generally more interested in marginal profits than in total profits.
Answer the following statement true (T) or false (F)