If a firm hires 12 workers at $9 per hour each and the 13th worker will be hired only if the wage rate falls to $8 per hour, the marginal wage rate must be

Which of the following is the BEST example of a monopsonist?

A) a household hiring a gardener B) a turnip farmer hiring seasonal help C) Hershey's Chocolate Factory in Hershey, PA D) Vinaka Coffee Shop in Carlsbad, CA

In June 2017, the Federal Open Market Committee raised the target for the federal funds rate to a range of 1.00 to 1.25 percent. To keep the federal funds rate in this target band, the Fed set the interest rate it pays on reverse repurchase agreements to

A) 1.00 percent. B) 1.125 percent, the mid-point of the target range. C) 1.25 percent. D) 2.25 percent.