Compared to a monopsony, a perfectly competitive labor market results in a
A) higher wage rate and more workers hired.
B) higher wage rate and fewer workers hired.
C) lower wage rate and more workers hired.
D) lower wage rate and fewer workers hired.
A
You might also like to view...
Which of the following methods of importing technological change is available to a poor country which Gordon describes as being caught in the "poverty trap"?
A) Copy modern products made in rich countries. B) Purchase imported machinery that embodies the latest technology. C) Obtain investment by foreign firms. D) None of the above.
The current role of the International Monetary Fund is one of
A. supervising a system of fixed exchange rates. B. providing assistance to countries with currency or debt problems. C. setting exchange rates based on a gold-exchange standard. D. acting as a lender of last resort to central banks.