The two most comprehensive, widely accepted macroeconomic models are
A) the classical model and the supply-side model.
B) the supply-side model and the real business cycle model.
C) the classical model and the Keynesian model.
D) the Austrian model and the Keynesian model.
C
Economics
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The monopsonist will employ labor to the point at which the
A) marginal factor cost equals the marginal revenue product of labor. B) marginal revenue product equals the wage rate. C) marginal cost of output equals the marginal revenue. D) demand equals the supply of labor.
Economics
Which of the following is a characteristic of monopolistic competition?
A. Standardized product B. A relatively small number of firms C. Absence of non price competition D. Relatively easy entry
Economics