Market work includes activities such as
a. practicing your golf game
b. studying for an economics exam
c. teaching a college economics course
d. picking up empty cans for the bottle deposit
e. picking strawberries for your own use
C
You might also like to view...
In the Keynesian model, consumption depends on:
A. the natural rate of unemployment. B. potential output. C. disposable income. D. whether the government has a budget surplus or deficit.
Suppose that there is a positive aggregate demand shock and the central bank commits to an inflation rate target. If the commitment is credible, then
A) the public's expected inflation will remain unchanged. B) the short-run aggregate supply curve will not shift. C) over time inflation will fall back down to the inflation target. D) all of the above. E) both A and B.
When unions exist in markets
A) firms must have market power in their output markets. B) there no longer is a perfectly competitive labor supply. C) individual workers no longer make labor-leisure trade-off decisions. D) employers have market power in labor markets.
If the income effect is ________ the substitution effect, the labor supply curve has a positive slope.
A. smaller than B. equal to C. unrelated to D. greater than