If a worker responds to an increase in the opportunity cost of leisure by taking less leisure, then his labor supply curve is
a. horizontal.
b. vertical.
c. backward sloping.
d. upward sloping.
d
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Refer to the scenario above. What is the sum of the payoffs to the firms if both firms use Strategy A?
A) 1 B) -2 C) 2 D) 0
When buying a car from a commission salesman you improve your bargaining position by
a. shopping when the new model year cars have just arrived b. shopping when the showroom is full of customers c. shopping when the car lot has very few cars left unsold d. shopping toward the end of the month
In the circular flow model, the value of total production for an economy ________ the value of total expenditures on final goods and services
A) equals B) is less than C) may be greater than or less than D) is greater than
________ are the owners of a corporation
A) Bondholders B) The board of directors C) Stockholders D) Top management