The _____ tends to increase an individual's demand for leisure.
A. income effect of a wage decrease
B. law of increasing marginal utility
C. substitution effect of a wage increase
D. income effect of a wage increase
Ans: D. income effect of a wage increase
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The demand curve faced by a monopolistically competitive firm that incurs a loss in the short run will shift to the left in the long run
a. True b. False Indicate whether the statement is true or false
The Social Security Trust Fund
a. will provide a stream of future revenue for the federal government. b. is a "pot" of money set aside for the payment of future benefits. c. is a net asset of the U.S. Treasury worth approximately $2 trillion. d. is of zero asset value to the federal government.
Which of the following happens in the market for loanable funds when there is capital flight?
a. the demand curve shifts right. b. the demand curve shifts left. c. the supply curve shifts right. d. the supply curve shifts left.
As economists use the word, investment refers only to an increase in capital.
Answer the following statement true (T) or false (F)