In the IS-LM-PC model, which of the following is assumed to be exogenous?

The U.S. personal saving rate ________

A) is much higher than the percentage the Chinese citizens save B) is higher than the saving rate of most countries C) cannot fall below zero D) increased by a factor of five every year since the 1970s E) none of the above

Suppose a previously competitive labor market turns into a monopsony. The labor supply curve faced by the new monopsonist is

a. above the labor supply curve under perfect competition b. the market supply curve of labor c. below the labor supply curve under perfect competition d. changed because workers are now more willing to supply labor e. perfectly horizontal