Increases in income from sources other than employment can cause the labor supply curve to shift to the left
a. True
b. False
Indicate whether the statement is true or false
True
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When determining value added, national income accounting systematically ignore
A) accounting profits. B) economic profits. C) accounting losses. D) the expected market value of unsold inventory.
If two consumption points are not on the same indifference curve, then one point is ________
A) a substitute for the other point B) unaffordable and the other is affordable C) preferred to the other D) more expensive than the other
The above figure shows four different markets with changes in either the supply curve or the demand curve. Which graph best illustrates the market for coffee after severe weather destroys a large portion of the coffee crop?
A) Graph A B) Graph B C) Graph C D) Graph D
Figure 15.3 depicts a one-mile stretch of beach with 100 swimmers distributed evenly along the beach. There are two ice cream vendors - 1 and 2 - on the beach selling an identical product. Assume that each swimmer buys only one ice cream cone and that they prefer to buy ice cream from the nearer vendor. If vendor 1 is at A while vendor 2 is at D, vendor 1 will sell ________ ice cream cones while vendor 2 sells ________ ice cream cones.
A. 40; 60 B. 45; 55 C. 55; 45 D. 60; 40