The above figure shows the market for labor. The employer is a monopsony. At the equilibrium level of employment, which of the following is CORRECT?
A) MCL = VMP
B) VMP > W
C) W < MCL
D) All of the above are correct.
D
You might also like to view...
In the short-run, a tax increase
A) shifts the DD curve to the right, increases output and appreciates the currency. B) shifts the AA curve to the left, increases output and depreciates the currency. C) shifts the AA curve to the left, decreases output and depreciates the currency. D) shifts the AA curve to the left, increases output and appreciates the currency. E) shifts the DD curve to the left, decreases output and depreciates the currency.
In which of the following ways does government affect the consumption component of planned aggregate expenditures?
a. Through net taxes, which change disposable income b. By purchasing goods and services, which increase consumption c. By using subsidies to encourage firms to invest d. By reducing the interest rate to encourage firms to invest e. By producing public goods
Another name for plurality voting is:
A. instant runoff voting. B. first-past-the-post voting. C. pair-wise majority voting. D. approval voting.
Sustained economic growth emerged in history when some nations of the world managed to create conditions where
What will be an ideal response?