Which of the Following Statements Is False

question 65

Multiple Choice

Which of the following statements is false?

• A)The evidence seems to show that there are only a few, if any, instances of pure monopsony in the real world.
• B)In a monopsony setting, it is possible for a minimum wage to actually increase the number of workers hired.
• C)Although in a monopsony setting it is possible for a minimum wage to actually increase the number of workers hired, it is not possible to raise wage rates continually and always increase employment, too.
• D)The marginal factor cost for a monopsonist is less than the wage rate it pays workers.

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Definitions:

Self-evaluation

The process of reflecting on and assessing one's own abilities, performance, and characteristics.

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Variations in the customs, values, practices, and social norms among different cultures.

Hawthorne Studies

A series of studies conducted in the early 20th century that investigated how different work conditions affected employee productivity, leading to insights on human relations and organizational behavior.

Worker Productivity

The measure of the efficiency of a person, especially in terms of the amount and quality of work produced.