An increase in wealth will usually cause an individual to ________ his supply of labor.
A. not change
B. increase
C. decrease
D. reduce to zero
Answer: C
You might also like to view...
If income increases and the demand for bus rides decreases,
A) bus rides are a normal good. B) consumers are behaving irrationally. C) bus rides are an inferior good. D) bus rides are a substitute good. E) bus rides must be a complement good with some other good.
Which of the following is most nearly consistent with Say's law?
A) When a person produces one good, he or she plans to demand other goods. B) When a person produces a good, he or she plans to sell it. C) When a person buys a good, he or she plans to pay for it with money. D) When a person goes to work, he or she plans to produce.
Risk-free investments have rates of return:
A. that exhibit a large spread of potential payoffs. B. with a standard deviation equal to zero. C. that are uncertain, but have a certain time horizon. D. equal to zero.
Discouraged workers
A. have jobs, but are unhappy with them. B. are officially unemployed. C. want to work, but have given up looking for jobs. D. are not working and don't want to work.