40. The situation where a large number of workers with the same qualifications offer their work to a large number of competing firms in the labor market is called... 1. Completely competitive labor market 2. The monopsony 3. Monopoly 4. Oligopoly

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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40. The situation where a large
number of workers with the same
qualifications offer their work to a
large number of competing firms
in the labor market is called...
1. Completely competitive labor
market
2. The monopsony
3. Monopoly
4. Oligopoly
41. Under what conditions does the
company's profit become
maximum?
1. TR>TC
2. MR > MC
3. TR=TC
4. MR = MC.
42. In determining GDP by the
expenditures it does not include ...
1. Consumer spending
2. Gross private domestic
investment
" 3. Wages of employees
4. Government expenditures
Transcribed Image Text:40. The situation where a large number of workers with the same qualifications offer their work to a large number of competing firms in the labor market is called... 1. Completely competitive labor market 2. The monopsony 3. Monopoly 4. Oligopoly 41. Under what conditions does the company's profit become maximum? 1. TR>TC 2. MR > MC 3. TR=TC 4. MR = MC. 42. In determining GDP by the expenditures it does not include ... 1. Consumer spending 2. Gross private domestic investment " 3. Wages of employees 4. Government expenditures
43. In determining GDP by the
income method, it does not include
1. Net exports
2. Profit
3. The percentage
4. Rent
44. Inflation is defined as...
1. The price growth of any goods
2. The increase in the average price
level over the year
3. The change in the price of goods
over the year
4. Shortage of goods
IX
45. The Sum of GDP and the
balance of primary (net) income
from abroad is...
1. Disposable income
2. Gross national income
3. Personal income
4. Public wealth
Transcribed Image Text:43. In determining GDP by the income method, it does not include 1. Net exports 2. Profit 3. The percentage 4. Rent 44. Inflation is defined as... 1. The price growth of any goods 2. The increase in the average price level over the year 3. The change in the price of goods over the year 4. Shortage of goods IX 45. The Sum of GDP and the balance of primary (net) income from abroad is... 1. Disposable income 2. Gross national income 3. Personal income 4. Public wealth
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