When there is a recessionary gap, one is likely to see an increase in overtime work and more hours worked by part-time workers
a. True
b. False
Indicate whether the statement is true or false
False
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What would be the effect on the labor supply curve of a higher income tax rate?
A corner solution to a consumer's utility maximization problem implies (Select all that are true.)
consuming a positive amount of one good and zero of the other good. consuming a positive amount of all goods. consuming more than an optimal amount of at least one good. spending all income. spending less than full income. the goods are imperfect substitutes the goods are perfect substitutes
A game in which each player has a dominant strategy of defecting, and each ends up worse off than if they had both cooperated, is called a ________ game
Fill in the blank(s) with correct word
The ________ effect means that, other things remaining the same, the higher the wage rate, the less time people will spend working and the more time people will spend at leisure
A) price B) labor C) income D) substitution