People who gain greater enjoyment from leisure activities
a. allocate more time to leisure
b. allocate more time to market work
c. allocate more time to nonmarket work
d. generally earn higher market wages
e. generally earn lower market wages
A
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Most recessions last approximately three years
a. True b. False
In the calm before the storm of the early 1990s recession, the economy was fueled by many factors including debt-financed purchases by some firms of all the stock or assets of other firms. These purchases were known as
a. hostile takeovers b. junk bonds c. leveraged buyouts d. stock swaps e. derivatives
Suppose the official unemployment rate is 10 percent. Which of the following is a definite conclusion to draw?
What will be an ideal response?
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.