Firms have market power in:
A. perfectly competitive markets.
B. monopolistically competitive markets and monopolistic markets.
C. monopolistically competitive markets.
D. monopolistic markets.
Answer: B
Economics
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What is a monopsony and why is a monopsony able to pay a lower wage rate than a firm in a competitive labor market?
What will be an ideal response?
Economics
Under the price-specie-flow mechanism, what happens when, say, Germany's current account surplus is greater than its non-reserve capital account deficits?
A) German loans will finance all foreign net imports. B) Automatic drop in German domestic prices and rise in foreign prices. C) Gold reserves will flow into Germany. D) Gold reserves will flow out of Germany. E) Germany will experience a deficit.
Economics