What is a monopsony?
What will be an ideal response?
A monopsony is a market with only one buyer of a factor of production.
Economics
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Briefly explain the Heckscher-Olin (H-O) Theory.
What will be an ideal response?
Economics
In the graph shown, what could balance the trade deficit (reduce domestic consumption)?
A. A hurricane that damages domestic manufacturing plants B. Expansionary fiscal policy C. Lower domestic wages D. Contractionary monetary policy
Economics