An upward sloping labor supply curve suggests that;
A. there is no substitution effect.
B. the income effect outweighs the substitution effect.
C. the substitution effect outweighs the income effect.
D. None of the choices are correct.
C. the substitution effect outweighs the income effect.
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A decrease in the nominal interest rate ________ the opportunity cost of holding money
A) increases B) decreases C) can increase or decrease D) None of the above answers is correct because the nominal interest rate does not affect the opportunity cost of holding money.
A defendant believes there is a 70 percent chance that the plaintiff will win $200,000, a 10 percent chance the plaintiff will win $150,000 and a 20 percent chance the plaintiff will lose and receive nothing (zero). If the defendant's litigation cost is $100,000, what is the defendant's expected loss from the litigation?
A) $150,000 B) $255,000 C) $300,000 D) $155,000
Which of the following formulas is used in step 3 of the three-step method for monopolistic competition?
a. TC = ATC ? q b. TR = P ? q c. TC = P ? q d. TR = ATC ? q
The percentage of U.S. citizens living in poverty is actually higher today than it was for most of the 1970s.
Answer the following statement true (T) or false (F)