Which of the following is most likely to be an example of monopsony?
A. The market for fast-food workers in a large summer resort town.
B. The market for card dealers in Las Vegas.
C. The market for Major League Baseball umpires.
D. The market for retail sales clerks in a major city.
Answer: C
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The rate-of-return line ________ when the interest rate rises
A) shifts to the right B) shifts to the left C) pivots to become steeper D) pivots to become flatter E) is not affected
Suppose that over the past year, the real interest rate was 6 percent and the inflation rate was 4 percent. It follows that
a. the dollar value of savings increased at 6 percent, and the purchasing power of savings increased at 2 percent. b. the dollar value of savings increased at 6 percent, and the purchasing power of savings increased at 10 percent. c. the dollar value of savings increased at 10 percent, and the purchasing power of savings increased at 2 percent. d. the dollar value of savings increased at 10 percent, and the purchasing power of savings increased at 6 percent.