If a monopsonist's labor supply curve is positively sloped, the marginal factor cost (MFC) will ...

If a monopsonist's labor supply curve is positively sloped, the marginal factor cost (MFC) will exceed the wage rate.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 2

Military spending is a good example of an automatic stabilizer.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 3

Marginal factor cost (MFC) is the same as the wage rate for a monopsonist.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 4

The value added at all stages of production sums to the market value of the final good, and the value added for all final goods sums to GDP based on the income approach.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 5

The unemployment problem becomes more severe if prices are sticky downward.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 6

The value of tires purchased by a company to use on its cars is not included when calculating the gross domestic product (GDP).
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 7

Monopsony means a labor market with a single buyer.
 a. True
  b. False
  Indicate whether the statement is true or false