In making labor supply decisions, ________ weigh the market wage against the value of leisure and time spent in unpaid household production.
A. households
B. businesses
C. financial markets
D. None of the above is correct.
Answer: A
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Junk bonds are defined as those bonds the rating services consider to be
A) investment grade. B) high risk or speculative grade. C) financial grade. D) in default.
AIG almost went bankrupt in 2008 because
A) the value of the securities underlying its credit default swaps declined significantly. B) it lacked the collateral required by buyers of its credit default swaps. C) prices of securities underlying their credit default swaps were hard to determine since they were no longer actively traded. D) all of the above.
In 2010, the imaginary nation of Bovina had a population of 5,000 and real GDP of 600,000 . In 2011 it had a population of 5,200 and real GDP of 636,480 . During 2011 real GDP per person in Bovina grew by
a. 2 percent, which is high compared to average U.S. growth over the last one-hundred years. b. 2 percent, which is about the same as average U.S. growth over the last one-hundred years. c. 4 percent, which is high compared to average U.S. growth over the last one-hundred years. d. 4 percent, which is about the same as average U.S. growth over the last one-hundred years.
When considering trade of two goods between two people, if one person has all the endowment of both goods, this allocation
A) is never on a contract curve. B) will result in trade so each person has all of one good. C) will result in trade to a equal division of goods between the two people. D) is Pareto efficient.