When the wage rate rises, the demand for leisure falls.
Answer the following statement true (T) or false (F)
False
You might also like to view...
If the price of cappuccino on campus falls from $5 to $3 and the quantity demanded increases from 15 to 20, then the price elasticity of demand is approximately
A) 0.47, which mean cappuccino is inelastic. B) 0.57, which means cappuccino is inelastic. C) 1.75, which means cappuccino is elastic. D) 2.25, which means cappuccino is elastic.
A permanent decrease in taxes leads to
A) a small increase in current consumption. B) a large increase in current consumption. C) a small decrease in future consumption. D) a large decrease in future consumption.
Which of the following is the largest asset on a consolidated balance sheet for a commercial bank?
a. Checkable deposits b. government bonds c. Cash assets, including reserves d. Loans e. Borrowing from the Federal Reserve
Which of the following constitutes an external cost of driving an automobile?
A) insurance B) fuel C) pollution D) wear and tear