In the United States, imports have exceeded exports in every year since 1960

Suppose nominal aggregate demand falls by 3 percent while nominal wages are fixed

If firms were to lower their prices by 3 percent, this would ________ the drop in real output, with such pricing ________ an assumption that firms are profit-maximizers. A) prevent, in violation of B) prevent, consistent with C) worsen, in violation of D) worsen, consistent with

For the monopsonist, marginal expenditure is greater than the wage rate because the monopsonist

A) pays a wage higher than that paid in a competitive market. B) chooses the perfectly competitive quantity of labor. C) must increase the wage to all units of labor to attract more units of labor. D) must take the wage as given by the market.