A country's index of openness can never exceed 100 in value
Indicate whether the statement is true or false
FALSE
Explanation: Recall the example of Singapore.
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For the monopsonist, marginal expenditure is greater than the wage rate because the monopsonist
A) pays a wage higher than that paid in a competitive market. B) chooses the perfectly competitive quantity of labor. C) must increase the wage to all units of labor to attract more units of labor. D) must take the wage as given by the market.
A theory suggesting that price stickiness leads to sluggish short-run adjustment of the price level to variations in aggregate demand is known as
A) new Keynesian flexible-price business cycles. B) new Keynesian inflation dynamics. C) real-business-cycle fixed-price business cycles. D) real-business-cycle inflation dynamics.