The decline in the average number of hours worked over the last century from 60 hours to 40 hours can be explained as a consequence of
a. an increase in nonlabor income shifting labor supply to the left.
b. an increase in nonlabor income shifting labor supply to the right.
c. a decrease in the demand for labor.
d. an improved understanding of the importance of sleep to labor productivity.
a. an increase in nonlabor income shifting labor supply to the left.
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When the interest rate on newly issued bonds increases, the price of existing bonds:
A. decreases. B. may either increase or decrease. C. increases only if the coupon rate is below the new rate. D. increases.
The Clayton Act is an antitrust law that was passed to
A) outlaw monopolization. B) prohibit charging buyers different prices if the result would reduce competition. C) address loopholes in the Sherman Act. D) toughen restrictions on mergers by prohibiting mergers that reduce competition.
The slope of the total variable cost curve gives the average cost of production
Indicate whether the statement is true or false
Number of FigsVCMCAVCFCTCATC0???100??19090????2?????1353??80???4????400?Table 8.4Table 8.4 presents the cost schedule for David's Figs. If David produces zero figs, David's total costs are:
A. $0. B. $90. C. $100. D. $130.