Suppose computer prices at an office supply store fall from $1,000 to $900 and as a result the quantity demanded of typewriters decreases from 40 to 20 per month. The cross-price elasticity of demand is closest to

Which of the following statements is TRUE when comparing monopsony and competitive labor markets?

A) The monopsony hires more workers but pays a lower wage. B) The monopsony hires more workers at a higher wage. C) The monopsonist's wage is lower and quantity of labor higher than would prevail under competition. D) The monopsonist's wage and quantity of labor are lower than would prevail under perfect competition.

The foreign exchange system that has the highest foreign exchange risk is

A) the dirty floating exchange rate. B) the fixed exchange rate. C) the floating exchange rate. D) the Bretton Woods system.