A monopsonist's wage cost in hiring an additional worker is the:
A. worker's wage rate.
B. worker's wage rate plus the wage increases paid to all workers already employed.
C. worker's wage rate adjusted for the lower price that must be charged for the extra output.
D. marginal wage cost less the wage rate.
Answer: B
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A number of studies of the effect of immigration on U.S. wages has found:
a. no effect on wages of any educational group. b. significant rises in wages for those without a high school diploma and for college graduates but a negative impact for high school graduates and those with some college education. c. significant declines in wages for those without a high school diploma and for college graduates. d. no effect on other groups but significant declines in wages for high school graduates and those with some college
Investment, as defined for calculating GDP, consists of only two components: business spending on plant and equipment and unsold inventories
a. True b. False