The reservation wage is the
A) highest wage for which a person is willing to supply labor.
B) lowest wage for which a person is willing to supply labor.
C) wage for which a person is willing to work full time.
D) wage for which a person is willing to work overtime.
B
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Taxes listed as Federal Insurance Contribution Act taxes on the employee paystub are ________
A) payroll taxes B) value-added taxes C) income taxes D) excise taxes
Tourists in foreign countries are often charged more for hand-made items at tourist shops compared to the local customers. Why?
A) The tourists are typically less informed than the local customers. B) The tourists typically have fewer available alternatives compared to the local customers. C) The shop owners can usually identify tourists. D) For all of the above reasons.