Sam has two jobs, one for the winter and one for the summer. In the winter, he works as a lift attendant at a ski resort where he earns $13 per hour. During the summer, he drives a tour bus around the ski resort, earning $11 per hour. If Sam takes fewer hours of leisure in the winter than in the summer, we can assume that his labor supply curve for the range of earnings in this example
a. is horizontal.
b. is vertical.
c. is upward sloping.
d. has a backward-sloping portion.
c
You might also like to view...
Autonomous aggregate expenditures increases by $100 million, the marginal propensity to consume is 0.60, marginal propensity to invest is 0.20, and the marginal propensity to import is 0.10. Calculate the change in income
What will be an ideal response?
The Dow Jones Industrial Average is computed based on
A) thirty blue-chip stocks. B) five hundred blue-chip stocks. C) all stocks sold on the NYSE. D) all stocks sold on all organized exchanges in the United States
In 1995, the Boskin commission identified which of the following problems with the computation of the CPI?
A) it does not account for the fact that consumers can substitute away from products as they get more expensive B) an increase in price could be the result of quality improvements rather than an increase in the cost of living C) it often does not reflect decreases in the cost of living that occur when new goods are introduced D) all of the above E) none of the above
Refer to the above table. Nation "A" has a current account
A) deficit of 15. B) surplus of 15. C) deficit of 60. D) surplus of 60.