Leisure being a normal good is neither necessary nor sufficient for labor supply to slope up.
Answer the following statement true (T) or false (F)
True
Rationale: It is not necessary because leisure being an inferior good causes labor supply to slope up. It is not sufficient because leisure can be normal with labor supply sloping down.
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If currency speculators decide that the value of the dollar should rise in the future relative to the yen, this will increase the demand for dollars and decrease the supply of dollars
Indicate whether the statement is true or false
As monthly rain levels rise, golf course revenue falls because casual golfers prefer to stay dry. This is an example of:
A. scarcity. B. incentives. C. normative analysis. D. correlation and causation.
The current account shows international transactions in goods and services, the capital account shows international transactions involving the flow of financial assets, and the official reserve transactions account shows movement of international reserves
a. True b. False
In 2000, many economists believed that the most serious macroeconomic problem confronting the U.S. economy was an inflationary gap. Which policies would be effective in dealing with this problem?
A. Increase transfer payments. B. Increase government purchases. C. Decrease personal income taxes. D. Increase personal income taxes.