The GDP price index: a. measures the average price of final ...

[rmenurse]

The GDP price index:
 a. measures the average price of final goods and services produced in an economy.
 b. measures the quality of goods produced in an economy.
 c. is derived using the prices of only imported and exported goods and services.
 d. is derived using the implicit prices of goods and services produced by the government.
  e. measures the value of all intermediate goods and services sold in an economy.

Question 2

Which of the following statements is true about monopsony?
 a. c and e.
  b. c, d, and e.
  c. Monopsonists exercise complete buying power.
  d. Monopsonists maximize profit by setting MRP = MFC.
  e. Monopsonists face the whole labor supply curve.

[wfdfwc23]

Answer to Question 1

a

Answer to Question 2

b

[rmenurse]

YES! Correct, THANKS for helping me on my review

[robbielu01]

Thanks for the timely response, appreciate it