Households will supply labor as long as the wage they receive is less than the value of their leisure time.
Answer the following statement true (T) or false (F)
False
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Exhibit 36-2 Stock High Low Close Net chg. Dasher 17.25 16.75 17.00 (A) Dancer 34.85 34.25 (B) +0.25 Prancer 56.50 55.90 56.00 (C) Vixen 65.90 (D) 64.75 -0.75 Refer to Exhibit 36-2. If the closing price of Dasher's stock on the previous day was $17.50, what value goes in blank (A)?
A. -0.50 B. +0.50 C. -0.25 D. -0.75 E. There is not enough information given to answer this question.
Suppose that there are three variables involved in the graph to the? right: (1)? quantity, (2)? price, and? (3) a third variable. Which of those variables causes the quantity to change from point C to point D in the? graph?
The basic problem in economics is
A. unlimited resources. B. differences in people's tastes and preferences. C. scarcity. D. limited needs.
Substitute goods are
A. replacements for one another. B. inferior goods. C. consumed together. D. usually free goods.