In a labor market, employment
A) and the wage rate are higher when the market is a monopsony than when the market is competitive.
B) is higher and the wage rate is lower when the market is a monopsony than when the market is competitive.
C) is lower and the wage rate is higher when the market is a monopsony than when the market is competitive.
D) and the wage rate are lower when the market is a monopsony than when the market is competitive.
D
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Which of the following is true?
a. There is a fixed size of economic pie available for the government to allocate among individuals. b. In a market economy, the link between productivity and income provides individuals with an incentive to provide resources that are highly valued by others. c. Taxes and transfers do not affect the amount of income that is created. d. How income is distributed exerts little impact on the total amount of income generated.
The idea of policymaking taking place in response to a predetermined set of rules is referred to as
A. discretionary policymaking. B. passive policymaking. C. Keynesianism. D. active policymaking.