Because of market power, wages are higher under monopsony than under competitive conditions
Indicate whether the statement is true or false
False. Because of market power, the monopsonist pays a lower wage than is paid in a competitive market.
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Which of the following correctly describes the automatic mechanism through which the economy adjusts to long-run equilibrium?
A) the rightward shift of the aggregate demand curve that occurs during a recession B) the leftward shift of the short-run aggregate supply curve that occurs after a recession C) the rightward shift of the short-run aggregate supply curve that occurs after a recession D) the leftward shift of the aggregate demand curve that occurs after a recession
The growing use of computers led to a substantial increase in the overall U.S. productivity growth from 1995 to 2005
a. True b. False Indicate whether the statement is true or false