Because of the income effect, the labor supply curve is
A) eventually backward bending as wage rate increases.
B) positively sloped.
C) horizontal.
D) vertical.
A
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The cost to a member bank of borrowing from the Federal Reserve is the
Consider the graph shown. What would most likely be the cause of a shift from S1 to S2?
A. A tax on sellers
B. A tax on buyers
C. A subsidy for sellers
D. A subsidy for buyers
In order to simplify a complex situation, economic models often treat constraints as unalterable
Indicate whether the statement is true or false
A person may be described as belonging to the set of counterfeit unemployment if he or she a. quits working because of a variety of excuses such as "unbearable office politics" or"difficulty to work in that environment."
b. becomes discouraged after many attempts to find work c. is actually working but that work is unreported so that the person can getunemployment insurance d. substitutes a family member to work for him or her, typically a woman substitutingfor a stay-at-home man e. is working but at a job demanding considerably less than the person's talents