The income effect of a wage decrease examines the effect of the decrease in wage income on a worker's ability to purchase goods and services
Indicate whether the statement is true or false
TRUE
You might also like to view...
When quantity supplied equals quantity demanded:
A. equilibrium is reached. B. the market forces push the economy to produce more. C. the market forces push the economy to produce less. D. the market forces cease to function.
The reform of the welfare system passed by Congress and signed by President Clinton changed the benefits for welfare recipients as it
a. decreased the number of people eligible for benefits, increased the benefit amount for those still eligible, and set a maximum coverage period of five years b. decreased the number of people eligible for benefits, cut the benefit amount for those still eligible, and set a maximum coverage period of three years c. increased the number of people eligible for benefits, cut the benefit amount for those still eligible, and set a maximum coverage period of three years d. decreased the number of people eligible for benefits, cut the benefit amount for those still eligible, and set a maximum coverage period of five years e. froze the number of people eligible for benefits, cut the benefit amount for those still eligible, and set a maximum coverage period of three years
An effective craft union acts as a monopoly
A. demander of labor. B. seller of labor. C. demander of capital. D. seller of capital.
Development assistance as a percentage of GDP is greatest for which of the following industrialized nations (as of 2012)?
A. The United States. B. Norway. C. Sweden. D. Netherlands.