A backward-bending supply curve of labor implies that
a. if the wage rate offered keeps increasing, at some point, workers will work fewer hours in response to an increase in the wage rate
b. the firm can hire any quantity of workers it wishes provided it pays back workers for the lower wage rate it offered
c. at higher wage rates, workers will go back to work (overtime) during their off hours
d. income and work hours are regarded as back-to-back payments for labor
e. wage rates are not an important consideration in the work decision
A
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Which of the following is an example of a discretionary fiscal policy action?
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