Monopsonistic exploitation is
A) measured by the area above the supply curve but below the wage paid.
B) the difference between the marginal revenue product of a worker and the wage received by the worker.
C) measured by the height of the supply curve of labor.
D) the cost to society from unions.
B
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Refer to the Article Summary. If, after the outflow of educated workers in Mexico, it now takes more capital per hour worked to get the same amount of GDP per hour worked, this indicates ________ the per-worker production function in Mexico
A) a movement up B) a movement down C) a downward shift of D) an upward shift of
A point inside a production possibilities curve indicates
A) resources are not being used efficiently. B) resources are being used very efficiently. C) opportunity costs are constant. D) an output combination that is unobtainable with the current resource and technology levels