Who is most likely to benefit when the dollar depreciates against the euro?
A. U.S. exporters
B. Foreign sellers to U.S. buyers
C. U.S. buyers of foreign goods
D. Foreign savers
A. U.S. exporters
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The monopsonistic exploitation of labor refers to
A) the reduction in total output from monopoly in the product market. B) the union wage differential. C) workers being paid a wage less than their marginal revenue product. D) the reduction in employment resulting from union wage setting.
Suppose that for a particular firm the only variable input into the production process is labor and that output equals zero when no workers are hired. In addition, suppose that when the firm hires 2 workers, the total cost of production is $100 . When the firm hires 3 workers, the total cost of production is $120 . In addition, assume that the variable cost per unit of labor is the same
regardless of the number of units of labor that are hired. What is the firm's fixed cost? a. $40 b. $60 c. $80 d. $100
How does imperfect information affect market decisions?
A. It doesn’t because information is generally excellent. B. It leads to inefficient outcomes in which expected benefits and actual benefits diverge. C. It leads to wasteful attempts to improve information. D. It leads to exploitation of sellers by buyers.
Which of the following is an example of rent seeking?
a. Enrique offers large donations to politicians if they promise to support his causes. b. Gennifer donates small amounts to many politicians throughout the year. c. Christa regularly writes letters to her representatives urging them to support certain policies. d. Martin makes a large donation to a special interest group whose work he admires.