An import quota is the same as an import ban.

Along the aggregate supply curve, the quantity of real GDP supplied increases when the price level rises because

A) the real wage rate rises. B) the demand for the goods and services increases. C) the real wage rate falls. D) the real wage rate and profits both fall. E) profits decrease.

Which of the following statements is true about monopsony? a. Monopsonists face an upward-sloping supply curve of labor as long as unions control the supply curve of labor

b. Monopsonists can choose to hire any number of workers they wish. c. Monopsonists are also monopolists. d. Monopsonists will keep hiring until the worker's MRP = TLC. e. Monopsonists face a horizontal supply curve of labor as long as unions do not control the supply of labor.