If people work longer or harder,
a. they are unambiguously worse off
b. living standards will rise but nonmarket activities must be sacrificed
c. living standards will fall
d. more output can be produced, but living standards will fall
e. they will have fewer consumer goods to enjoy
B
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Suppose a subsidy is offered to consumers of education as a means of internalizing the externalities associated with education. If the subsidy accurately reflects the external benefits of education, then the new demand curve for education coincides with which other curve?
Why do we say that the demand for labor is a derived demand?
Banks
a. play a role in creating an asset that people can use as a medium of exchange. b. are financial intermediaries, but mutual funds are not financial intermediaries. c. are financial markets, as are bond markets. d. All of the above are correct.
Which of the equilibrium points on the leisure-income graph below has a wage rate of $4 per hour? 
A. c B. b C. d D. a