All of the following are true for a monopsonist except
A. The demand for labor is the same as the marginal revenue product of labor.
B. The derived demand for labor is downward-sloping.
C. The market demand for labor is upward-sloping.
D. The marginal factor cost for labor exceeds the wage rate.
Answer: C
Economics
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If the U.S. dollar appreciates relative to the British pound, then we pay fewer dollars for a pound
Indicate whether the statement is true or false
Economics
Usury laws are often politically popular because
a. few people sympathize with banks and other lenders who are suspected of price gouging. b. consumers are in favor of the lower lending rates. c. those concerned with affordable housing for the poor favor ceilings on mortgage rates. d. All of the above are correct.
Economics