Exploitation due to a single buyer in the input market is known as
A) monopoly exploitation.
B) monopsonistic exploitation.
C) Marxian exploitation.
D) the result of closed shops.
B
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Suppose you use your debit card to buy soda from a soda machine. Which of the following is true regarding the transaction?
A) The debit card is not money; it's only an instruction to make a loan. B) The debit card is money; your use reflects the exchange of a good. C) The debit card is not money; its use is only a tool to cause money to move from your account. D) Your use makes the debit card money, as funds are transferred between your account and the machine owner. E) Using the debit card is like using a check and is, therefore, money.
By "specialization" economists mean a situation where
A) individuals produce the goods or services for which they have relatively the best ability. B) goods are traded directly for goods and money is not used. C) individuals who produce goods do not also produce services and individuals who produce services do not also produce goods. D) individuals are assigned to occupations on the basis of tests that gauge their relative abilities.