The less freedom people are given to choose the date of their retirement, the
a. more elastic is the supply of labor.
b. less elastic is the supply of labor.
c. flatter is the labor supply curve.
d. smaller is the decrease in employment that will result from a tax on labor.
b
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While in school, Kiki spends 20 hours a week as a computer programmer for Microsoft and studies 30 hours a week
A) Kiki is classified as a full-time worker, working 50 hours a week. B) Kiki is classified as a part-time worker, working 30 hours a week. C) Kiki is classified as a part-time worker, working 20 hours a week. D) Because Kiki is a student, she is not classified as working. E) Because Kiki is a student, she is classified as a full-time worker, working 20 hours a week at a paid job.
For the last 100 years, the level of government that has seen the largest increase in its percentage of expenditures is
A. local. B. state. C. federal. D. all of these answer options are correct.
Refer to Table 10-5, which lists the values of Harry Taber's marginal utility and marginal utility per dollar for Italian submarine (sub) sandwiches and tacos. Assume that the price of a sub sandwich is $4 and the price of a taco is $2
When Harry's income is $14, he buys two Italian sub sandwiches and three tacos. The last column lists the values of the marginal utility per dollar for tacos when the price of a taco decreases to $1. Complete this statement: As a result of the change in price A) Harry's purchasing power has increased. He will reduce his consumption of tacos so he can buy one more sub. This is an example of the substitution effect of a price change. B) Harry's purchasing power has increased. Harry buys fewer tacos. This is an example of the substitution effect of a price change C) Harry's purchasing power has increased. If tacos are a normal good for Harry he will buy fewer tacos. This is an example of the income effect of a price change. D) Harry's purchasing power has increased. If tacos are a normal good for Harry he will buy more tacos. This is an example of the income effect of a price change.
The underlying fluctuations in real GDP due to the business cycle are reflected by fluctuations in
A) inflation. B) population growth. C) the labor force. D) real GDP per capita.