Fiona's hourly wage decreases from $10 to $8 . Which of the following describes a consequence of the decrease in Fiona's wage?
a. The opportunity cost of Fiona's leisure time has decreased.
b. Fiona may choose to work more hours due to the decrease in her wage.
c. Fiona may choose to work fewer hours due to the decrease in her wage.
d. All of the above are correct.
d
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Which of the following is a method by which a firm can obtain financial resources to invest in capital?
a. use of retained earnings b. borrowing from financial intermediaries c. selling stocks or bonds d. all of the above
Which of the following goods is nondiminishable?
A. City street B. National parks C. The use of a lighthouse D. A free concert
Describe the major features of the business cycle. Be sure to discuss what variables are affected by the cycle, a description of the key features that are apparent in the data, how variables are related to one another, how regular the cycle is, and how predictable the cycle is.
What will be an ideal response?
If tastes are homothetic in leisure and consumption, labor supply curves slope up.
Answer the following statement true (T) or false (F)