The supply curve of labor becomes backward bending when
a. higher wages induce people to work more hours
b. higher wages induce more people to work
c. the opportunity cost of working is lowered
d. increases in wages reduce the amount of labor supplied
e. new employment opportunities cause the supply curve to shift to the right
D
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One difference between stocks and bonds is that
A) stocks do not involve a promise to repay a purchaser of the stock, while bonds represent a promise to repay the purchase price of the bond. B) stocks represent ownership in companies, while bonds represent ownership in banks. C) stocks are financial securities, while bonds are labor market securities. D) stocks are usually issued in electronic form, while bonds are usually issued in paper form.
Most tariffs around the world are collected on an ad valorem basis
Indicate whether the statement is true or false
Based on the table "Real and Nominal GDP," if year one is the base year, then the GDP deflator for year two is ________
A) 95.5 B) 123.5 C) 118 D) 104.7 E) 116.6
If imports are $4 billion and net exports are $4 billion, what must be the value of exports?
A. $0 billion B. $8 billion C. $4 billion D. $2 billion