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Author Question: Gross domestic product (GDP) is not a perfect measure of welfare because it: a. treats a dollar ... (Read 66 times)

ericka1

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on: Jun 30, 2018
Gross domestic product (GDP) is not a perfect measure of welfare because it:
 a. treats a dollar spent on guns the same as a dollar spent on education.
  b. treats a dollar spent on exports the same as a dollar spent on imports.
  c. double counts the value of leisure time.
 d. double counts depreciation.
 e. counts illegal activities in the underground economy.

Question 2

Which of the following is not true about a monopsonist?
 a. It can set the wage rate and hire any desired number of workers at that wage.
  b. It is the only buyer of labor in a market.
  c. It usually extracts rents from its monopsony power.
  d. It determines the optimal employment-wage rate combination by equating the marginal revenue product of labor to the marginal cost of labor.
  e. It usually has to bargain with unionized workers.


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Jbrasil

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

a


ericka1

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

Mochi

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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