Refer to the below graph. If this labor market were operating under a monopsony, the equilibrium wage rate would be:
A. W1 and Q1 workers would be hired
B. W2 and Q2 workers would be hired
C. W2 and Q1 workers would be hired
D. W3 and Q1 workers would be hired
D. W3 and Q1 workers would be hired
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When a country exports a good because the world price is higher than the no-trade domestic price, domestic purchases of the good ________ and domestic production of the good ________
A) do not change; increases B) increase; increases C) decrease; increases D) decrease; decreases E) increase; decreases
Which of the following examples indicates an economic situation where the highest amount of money is demanded?
a. The interest rate for CDs is 6 percent. b. The interest rate for saving accounts is 4 percent. c. The interest rate for U.S. Treasury bills is 8 percent. d. The interest rate for municipal bonds is 2 percent.