An increase in dividend payments will
A. lead to a decrease in labor supply.
B. either lead to an increase or decrease in labor supply depending on the relative magnitude of the income and substitution effects.
C. have no effect on labor supply.
D. lead to an increase in labor supply.
Answer: A
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GDP would be a better measure of economic well-being if it included:
A. the value of leisure. B. the market value of final goods. C. the total value of intermediate goods. D. the costs of education.
What is a normal good?
a. A good whose demand increases when income decreases b. A good whose demand decreases when income decreases c. A good whose demand increases when price increases d. Both B&C
Income mobility tells us:
A. how likely people are to seek out opportunities to better themselves. B. the inflation rate associated with wages across all jobs in a country. C. how available the opportunity to better oneself is in the economy. D. the inflation rate relative to the cost of living in a country.
Which of the following countries achieved economic growth, in part, by reducing its population growth rate?
a. The former Soviet Union b. The United States c. The United Kingdom d. China e. Hong Kong