If workers suddenly decide to value more their leisure time than before, this
A) shifts the labor supply curve to the left, resulting in a wage increase and less workers hired.
B) shifts the labor supply curve to the right, resulting in a wage increase and less workers hired.
C) shifts the labor supply curve to the left, resulting in a wage decrease and less workers hired.
D) shifts the labor supply curve to the right, resulting in a wage increase and more workers hired.
A
You might also like to view...
Among the factors that might lead to a divergence from the path of prices for a depletable resource predicted by the economic models are: (i) unexpected discoveries of new reserves; (ii) new technologies that reduce extraction costs.
A. i and ii B. i but not ii C. ii but not i D. neither i nor ii
An economy currently has an inflationary gap. An increase in the money wage rate will ________ the inflationary gap and ________ the price level
A) decrease; decrease B) increase; increase C) increase; decrease D) decrease; increase
Raghib teaches mathematics at Camford University and receives $40,000 per year. His spouse, Noraini, works as a self-employed computer programmer and charges $40 per hour. Which of the following is true?
a. Raghib's income is personal interest; Noraini's is wages b. Raghib's income is a salary; Noraini's is personal interest c. Both Raghib and Noraini receive proprietor's income d. Both Raghib and Noraini receive wage or salary income e. Raghib's income is a salary, and Noraini's income is a proprietor's income
A problem associated with the principal-agent relationship is
A) imperfect information. B) perfect information. C) the low costs of monitoring behavior. D) none of these choices.