For a monopsonist, as the number of workers hired increases, the
a. wage rate falls due to the increase in supply
b. MLC curve and the labor supply curve get further apart
c. MLC curve and the labor supply curve get closer together
d. total labor costs fall
e. first workers continue to get paid less than the new workers
B
Economics
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Refer to Table 4-4. If a minimum wage of $9.50 an hour is mandated, what is the quantity of labor supplied?
A) 390,000 B) 380,000 C) 370,000 D) 340,000
Economics
If there are no statistical discrepancies, NDP (net domestic product) is:
A. NI minus net foreign factor income. B. NI plus corporate income taxes. C. GDP deflated for increases in the price level. D. GDP minus taxes on production and imports.
Economics