Given a fixed amount of time, a decision to supply labor or not is simultaneously a decision to

a. demand goods and services or not.
b. demand leisure or not.
c. supply capital and land or not.
d. supply leisure or not.


b

Economics

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The average duration of unemployment

A) decreases during recessions and increases during expansions. B) increases during recessions and decreases during expansions. C) does not vary with the business cycle. D) decreases all the time. E) increases all the time.

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What were the three shocks that the U.S. economy experienced during 2007-2009, and how did these shocks affect the IS curve, the MP curve, and the Phillips curve?

What will be an ideal response?

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Buyers and sellers receive signals from markets

A) by listening to the TV news programs. B) through the price system. C) from the gossip columns in the newspapers. D) from their friends and acquaintances.

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The laws of supply and demand did not apply to elephant tusks

a. True b. False Indicate whether the statement is true or false

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