The supply curve that monopsonists face is different from the supply curves that firms in competitive labor markets face because with a monopsony,
a. d and e.
b. the supply curve of labor is relatively flat.
c. offering a wage lower than the market wage means having no workers.
d. the employer faces the market supply curve.
e. the firm does not take the wage as given.
a
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Human capital is, in part, the
A) amount of money held by a worker. B) stock of knowledge of a worker. C) stock of plant and equipment. D) stock of financial assets held by the public.
Which of the following CORRECTLY describes characteristics of people who earn high incomes?
I. Older, retired households have the highest incomes. II. Married couples earned higher incomes than single people. III. Households with Bachelor's degrees have higher incomes than households with doctorate degrees. A) I and II B) I and III C) II and III D) II only