In a monopsonistic market
A) employment is lower but wages are higher than in a comparable competitive market.
B) employment is higher but wages are lower than in a comparable competitive market.
C) both employment and wages are higher than in a comparable competitive market.
D) both employment and wages are lower than in a comparable competitive market.
D
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Which of the following is not counted as income when the official poverty rate is calculated?
a. Medicaid benefits b. dividends derived from the ownership of stock c. earnings derived from a part-time job d. money income derived from transfer payments
An upward sloping isoquant
A) can be derived from a production function with one input B) can be derived from a production function that uses more than one input where reductions in the use of any input always reduces output C) cannot be derived from a production function when a firm is assumed to maximize profits D) can be derived whenever one input to production is available at zero cost to the firm E) none of the above
Suppose there are two good types (Type 1 and Type 2) and suppose the weights for the types are 60% for Type 1 and 40% for Type 2. Suppose the Price Index for Type 1 is 200 and the Price Index for Type 2 is 150. The overall price index is
A. 180. B. 175. C. 350. D. 140.
Which of the following provides a measure of the overall fit of a regression?
A. The F-statistic and R-square B. F-statistic C. R-square D. t-statistic