John has to choose between a camping holiday and a holiday in Las Vegas. If he evaluates the total net benefit of both alternatives before coming to a decision, he is using the technique of:

If the probability of losing your job remains ________, a recession would be a good time to purchase a home because the Fed usually ________ interest rates during this time

A) low; lowers B) low; does not change C) high; lowers D) low; raises E) high; raises

For a monopsonist, marginal factor cost exceeds the wage rate since

A) more workers have to be paid the prevailing wage rate. B) the supply of labor is perfectly elastic. C) when new workers are hired the wage rate must be increased for all workers and not just for the additional workers. D) the labor demand is downward sloping.