Jen's wage decreased, and she responded by enjoying more hours of leisure per day. Is Jen's behavior consistent with an upward-sloping labor-supply curve?
Yes. Jen responded to the lower wage by working fewer hours and enjoying more hours of leisure per day.
Economics
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"A rise in government expenditures raised output in the short run, but left output unaffected in the long run." This statement implies that the price level __________ in the long run, causing the interest rate to __________
A) rose; rise B) rose; fall C) fell; rise D) fell; fall
Economics
SNAP (food stamps) and Medicaid are examples of:
A. money transfers B. resource earnings C. in-kind transfers D. tax expenditures
Economics