The U.S. Judicial Branch

question 35

Multiple Choice

The U.S. judicial branch:

• A) interprets the laws and settles legal disagreements.
• B) includes the president and presidential cabinet.
• C) All of these are correct.
• D) None of these is correct.

---

Definitions:

Monopsony

A market situation where there is only one buyer for a product or service.

Labor Market

The supply of available workers in relation to available work.

Labor Supply Curve

A graphical representation showcasing the relationship between the wage rate and the quantity of labor workers are willing to supply.

Competitive Firm

A company operating in a market where there are many buyers and sellers, and the firm has little influence over the price of its products.