The price effect describes the:
A. decrease in the quantity of labor supplied in response to a higher wage.
B. increase in the quantity of labor supplied in response to a lower wage.
C. increase in the quantity of labor supplied in response to a higher wage.
D. increase in the quantity of labor demanded in respond to a higher wage.
C. increase in the quantity of labor supplied in response to a higher wage.
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The crowding-out effect is the tendency for
A) higher government budget deficits to increase total savings. B) lower private saving to decrease investment. C) higher government budget deficits to decrease investment. D) higher private savings to decrease government budget surpluses. E) lower private saving to increase the budget deficit.
A package of nontraded financial instruments can be transformed into a traded financial instrument through the process of
A) collateralization. B) repurchasing. C) securitization. D) underwriting.
Recent research by Fed researchers put the natural rate of interest at:
A. five percent. B. two percent. C. negative one percent. D. close to 0 percent.
Maggie buys peanut butter and jelly, both of which are normal goods. When the price of peanut butter rises, the income effect induces Maggie to buy ________ peanut butter and ________ jelly.
a. less, less b. more, more c. more, less d. less, more